Is 48875, 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, 48875 has remained a Seller's Market.
Housing Prices in 48875, MI
How much do homes in 48875, MI cost?
Median Sold Price
$237,500
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48875 was $237,500 in March 2024, up 8.9% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $88.5K | $155K | +75.1% |
2 Bedrooms | $165K | $130.5K | -20.9% |
3 Bedrooms | $215K | $226.7K | +5.5% |
4 Bedrooms | $225.2K | $295K | +31.0% |
5+ Bedrooms | $279.5K | $419.1K | +50.0% |
Summary: 48875 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 75.1%, 2 bedroom homes decreased by 20.9%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 31%, and 5+ bedroom homes increased by 50%.
Median Sold Price Compared To Nearby Zip Codes
48875 | $218K | $237.5K | +8.9% |
48890 | $205K | $207.5K | +1.2% |
48837 | $285K | $285K | 0.0% |
Housing Supply in 48875, MI
How many homes are available in 48875, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 18 | -25.0% |
Summary: The 48875 real estate market had 18 homes for sale in March 2024, a 25.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 0 | -100.0% |
3 Bedrooms | 14 | 11 | -21.4% |
4 Bedrooms | 8 | 6 | -25.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48875 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 100%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 8 | -11.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in 48875 in March 2024, down by 11.1% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.
Days on Market for 48875, MI
How long does it take to sell a home in 48875, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
21 Days | 58 Days | +176.0% |
Summary: Homes in 48875 had an average of 58 days on market in Mar 2024, up by 176% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in 48875; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.