Is 48877, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 48877 was a Neutral Market.
Key Takeaway
48877 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48877, MI
How much do homes in 48877, MI cost?
Median Sold Price
$212,450
$152/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 48877 have sold for 64.6% less than they did a month ago.
Summary: The median home sold price in 48877 was $212,450 in April 2024, down 64.6% from last month, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $89.9K | N/A |
| 3 Bedrooms | $599.9K | $335K | -44.2% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48877 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 44.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48832 | $144.9K | $141.2K | -2.6% |
| 48818 | $305K | $255K | -16.4% |
| 48877 | $599.9K | $212.4K | -64.6% |
Housing Supply in 48877, MI
How many homes are available in 48877, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Summary: The 48877 real estate market had 10 homes for sale in April 2024, a 66.7% increase 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 | 3 | +200.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48877 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 increased by 200%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48877, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 48877 in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 48877, MI
How long does it take to sell a home in 48877, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 51 Days | 50 Days | -1.0% |
Summary: Homes in 48877 had an average of 50 days on market in Apr 2024, down by 1% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48877 has remained consistent over time.
Summary: During April 2024, 2 homes were sold in 48877; 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.
