Is 48846, 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, 48846 has remained a Seller's Market.
Key Takeaway
48846 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48846, MI
How much do homes in 48846, MI cost?
Median Sold Price
$189,950
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48846 have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in 48846 was $189,950 in March 2024, up 8.5% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $73.5K | $137.5K | +87.1% |
| 2 Bedrooms | $140K | $145K | +3.6% |
| 3 Bedrooms | $173K | $185K | +6.9% |
| 4 Bedrooms | $245K | $217.7K | -11.1% |
| 5+ Bedrooms | $221K | $223K | +0.9% |
Summary: 48846 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 87.1%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Zip Codes
| 48860 | $170K | $240K | +41.2% |
| 48851 | $136K | $178.4K | +31.2% |
| 48846 | $175K | $189.9K | +8.5% |
| 48881 | $270K | $262K | -3.0% |
Housing Supply in 48846, MI
How many homes are available in 48846, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 40 | 40 | 0.0% |
Summary: The 48846 real estate market had 40 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 18 | 23 | +27.8% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 48846 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 27.8%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48846, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48846 in March 2024, down by 38.5% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.
Days on Market for 48846, MI
How long does it take to sell a home in 48846, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 38 Days | -38.9% |
Summary: Homes in 48846 had an average of 38 days on market in Mar 2024, down by 38.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48846 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 48846; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
