Is 48864, 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, 48864 has remained a Seller's Market.
Housing Prices in 48864, MI
How much do homes in 48864, MI cost?
Median Sold Price
$357,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48864 was $357,000 in March 2024, up 2% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $103.5K | $200K | +93.2% |
2 Bedrooms | $114.7K | $171.5K | +49.5% |
3 Bedrooms | $306.5K | $300K | -2.1% |
4 Bedrooms | $416K | $445K | +7.0% |
5+ Bedrooms | $525K | $543.6K | +3.5% |
Summary: 48864 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 93.2%, 2 bedroom homes increased by 49.5%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 3.5%.
Housing Supply in 48864, MI
How many homes are available in 48864, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
72 | 78 | +8.3% |
Summary: The 48864 real estate market had 78 homes for sale in March 2024, a 8.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 14 | 12 | -14.3% |
3 Bedrooms | 14 | 21 | +50.0% |
4 Bedrooms | 27 | 31 | +14.8% |
5+ Bedrooms | 15 | 12 | -20.0% |
Summary: The 48864 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 decreased by 14.3%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 19 | +18.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in 48864 in March 2024, up by 18.8% month-over-month. Of the 19 sold homes, 42% were sold under asking, 0% were sold at asking, and 58% were sold over asking.
Days on Market for 48864, MI
How long does it take to sell a home in 48864, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
34 Days | 26 Days | -22.2% |
Summary: Homes in 48864 had an average of 26 days on market in Mar 2024, down by 22.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in 48864; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.