Is 48872, 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, 48872 has remained a Buyer's Market.
Key Takeaway
48872 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48872, MI
How much do homes in 48872, MI cost?
Median Sold Price
$259,950
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48872 have sold for 15% more than they did a year ago.
Summary: The median home sold price in 48872 was $259,950 in March 2024, up 15% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $137.6K | $138.9K | +0.9% |
| 3 Bedrooms | $200K | $260K | +30.0% |
| 4 Bedrooms | $245K | $280K | +14.3% |
| 5+ Bedrooms | $418.6K | $510K | +21.8% |
Summary: 48872 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 0.9%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 21.8%.
Housing Supply in 48872, MI
How many homes are available in 48872, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The 48872 real estate market had 11 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 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48872 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 remained the same, 3 bedroom homes decreased by 28.6%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48872, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 48872 in March 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48872, MI
How long does it take to sell a home in 48872, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 12 Days | 81 Days | +575.0% |
Summary: Homes in 48872 had an average of 81 days on market in Mar 2024, up by 575% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48872 has remained consistent over time.
Summary: During March 2024, 1 homes were sold in 48872; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.