Is 48848, 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, 48848 has remained a Seller's Market.
Housing Prices in 48848, MI
How much do homes in 48848, MI cost?
Median Sold Price
$256,752
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48848 was $256,752 in April 2024, up 0.7% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $181K | $198.5K | +9.7% |
3 Bedrooms | $257.3K | $246K | -4.4% |
4 Bedrooms | $365K | $457.5K | +25.3% |
5+ Bedrooms | $260K | $525K | +101.9% |
Summary: 48848 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 increased by 9.7%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 25.3%, and 5+ bedroom homes increased by 101.9%.
Housing Supply in 48848, MI
How many homes are available in 48848, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 15 | -6.3% |
Summary: The 48848 real estate market had 15 homes for sale in April 2024, a 6.3% decrease 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 | 1 | 1 | 0.0% |
3 Bedrooms | 12 | 9 | -25.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48848 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 48848 in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for 48848, MI
How long does it take to sell a home in 48848, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
50 Days | 45 Days | -9.2% |
Summary: Homes in 48848 had an average of 45 days on market in Apr 2024, down by 9.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in 48848; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.