Is 48843, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 48843 has remained a Seller's Market.
Housing Prices in 48843, MI
How much do homes in 48843, MI cost?
Median Sold Price
$354,258
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48843 was $354,258 in March 2024, up 4.2% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $160K | N/A |
2 Bedrooms | $220.2K | $237.5K | +7.8% |
3 Bedrooms | $328K | $340K | +3.7% |
4 Bedrooms | $410K | $429.9K | +4.9% |
5+ Bedrooms | $495K | $499.9K | +1.0% |
Summary: 48843 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 1%.
Housing Supply in 48843, MI
How many homes are available in 48843, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
134 | 143 | +6.7% |
Summary: The 48843 real estate market had 143 homes for sale in March 2024, a 6.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 31 | 34 | +9.7% |
3 Bedrooms | 50 | 54 | +8.0% |
4 Bedrooms | 39 | 42 | +7.7% |
5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The 48843 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
35 | 31 | -11.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in 48843 in March 2024, down by 11.4% month-over-month. Of the 31 sold homes, 29% were sold under asking, 23% were sold at asking, and 48% were sold over asking.
Days on Market for 48843, MI
How long does it take to sell a home in 48843, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
110 Days | 31 Days | -71.7% |
Summary: Homes in 48843 had an average of 31 days on market in Mar 2024, down by 71.7% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 31 homes were sold in 48843; 77% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.