Is 48842, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48842 has remained a Seller's Market.
Key Takeaway
48842 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48842, MI
How much do homes in 48842, MI cost?
Median Sold Price
$267,833
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48842 have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in 48842 was $267,833 in April 2024, up 9.8% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $83K | - | N/A |
| 2 Bedrooms | $150.5K | $145K | -3.7% |
| 3 Bedrooms | $237K | $259.8K | +9.6% |
| 4 Bedrooms | $302.2K | $333K | +10.2% |
| 5+ Bedrooms | $322.5K | $356K | +10.4% |
Summary: 48842 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 10.4%.
Housing Supply in 48842, MI
How many homes are available in 48842, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 45 | 49 | +8.9% |
Summary: The 48842 real estate market had 49 homes for sale in April 2024, a 8.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 23 | 24 | +4.3% |
| 4 Bedrooms | 14 | 18 | +28.6% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 48842 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48842, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 48842 in April 2024, the same as the previous month. Of the 17 sold homes, 47% were sold under asking, 6% were sold at asking, and 47% were sold over asking.
Days on Market for 48842, MI
How long does it take to sell a home in 48842, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 29 Days | +95.7% |
Summary: Homes in 48842 had an average of 29 days on market in Apr 2024, up by 95.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48842 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in 48842; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.