Is 48878, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 48878 has remained a Seller's Market.
Key Takeaway
48878 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48878, MI
How much do homes in 48878, MI cost?
Median Sold Price
$154,500
$144/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 48878 have sold for 34.3% more than they did a month ago.
Summary: The median home sold price in 48878 was $154,500 in April 2024, up 34.3% from last month, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $115K | $150K | +30.4% |
| 3 Bedrooms | - | $159K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48878 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 increased by 30.4%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48878 | $115K | $154.5K | +34.3% |
| 48617 | $237.5K | $227K | -4.4% |
Housing Supply in 48878, MI
How many homes are available in 48878, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Summary: The 48878 real estate market had 6 homes for sale in April 2024, a 50.0% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 2 | 4 | +100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48878 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, 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
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48878, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in 48878 in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for 48878, MI
How long does it take to sell a home in 48878, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 120 Days | +275.0% |
Summary: Homes in 48878 had an average of 120 days on market in Apr 2024, up by 275% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48878 has remained consistent over time.
Summary: During April 2024, 2 homes were sold in 48878; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
