Is 48879, 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, 48879 has remained a Seller's Market.
Housing Prices in 48879, MI
How much do homes in 48879, MI cost?
Median Sold Price
$250,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48879 was $250,000 in March 2024, up 4.8% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $102.5K | -26.8% |
2 Bedrooms | $157K | $170K | +8.3% |
3 Bedrooms | $240K | $249.9K | +4.1% |
4 Bedrooms | $255.5K | $300.7K | +17.7% |
5+ Bedrooms | $340K | $272K | -20.0% |
Summary: 48879 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.8%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes decreased by 20%.
Median Sold Price Compared To Nearby Zip Codes
48853 | $93.2K | $145K | +55.5% |
48820 | $342K | $365K | +6.7% |
48879 | $238.5K | $250K | +4.8% |
Housing Supply in 48879, MI
How many homes are available in 48879, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 43 | +4.9% |
Summary: The 48879 real estate market had 43 homes for sale in March 2024, a 4.9% increase 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 | 5 | 4 | -20.0% |
3 Bedrooms | 27 | 29 | +7.4% |
4 Bedrooms | 8 | 8 | 0.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48879 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 20%, 3 bedroom homes increased by 7.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 11 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 48879 in March 2024, the same as the previous month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for 48879, MI
How long does it take to sell a home in 48879, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
34 Days | 33 Days | -1.3% |
Summary: Homes in 48879 had an average of 33 days on market in Mar 2024, down by 1.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 48879; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.