Is 48867, 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, 48867 has remained a Seller's Market.
Housing Prices in 48867, MI
How much do homes in 48867, MI cost?
Median Sold Price
$150,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48867 was $150,000 in April 2024, up 8.9% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $64K | $64.5K | +0.8% |
2 Bedrooms | $111K | $130K | +17.1% |
3 Bedrooms | $142K | $162.5K | +14.4% |
4 Bedrooms | $160K | $177.5K | +10.9% |
5+ Bedrooms | $149.9K | $233K | +55.4% |
Summary: 48867 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 55.4%.
Median Sold Price Compared To Nearby Zip Codes
48866 | $146K | $189K | +29.5% |
48817 | $152.7K | $182K | +19.1% |
48867 | $137.7K | $150K | +8.9% |
Housing Supply in 48867, MI
How many homes are available in 48867, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
76 | 101 | +32.9% |
Summary: The 48867 real estate market had 101 homes for sale in April 2024, a 32.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 16 | 14 | -12.5% |
3 Bedrooms | 40 | 57 | +42.5% |
4 Bedrooms | 15 | 24 | +60.0% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 48867 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 42.5%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 33 | +106.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in 48867 in April 2024, up by 106.3% month-over-month. Of the 33 sold homes, 36% were sold under asking, 12% were sold at asking, and 52% were sold over asking.
Days on Market for 48867, MI
How long does it take to sell a home in 48867, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 32 Days | +34.1% |
Summary: Homes in 48867 had an average of 32 days on market in Apr 2024, up by 34.1% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 33 homes were sold in 48867; 73% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.