Is 48880, 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, 48880 has remained a Seller's Market.
Key Takeaway
48880 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48880, MI
How much do homes in 48880, MI cost?
Median Sold Price
$126,500
$103/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 48880 have sold for 18.4% less than they did a month ago.
Summary: The median home sold price in 48880 was $126,500 in April 2024, down 18.4% from last month, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $155K | $121.5K | -21.6% |
| 3 Bedrooms | $155K | $125K | -19.4% |
| 4 Bedrooms | - | $195K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48880 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 decreased by 21.6%, 3 bedroom homes decreased by 19.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48880 | $155K | $126.5K | -18.4% |
| 48883 | $319.9K | $110K | -65.6% |
Housing Supply in 48880, MI
How many homes are available in 48880, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 25 | +19.0% |
Summary: The 48880 real estate market had 25 homes for sale in April 2024, a 19.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 12 | 16 | +33.3% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48880 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48880, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 48880 in April 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for 48880, MI
How long does it take to sell a home in 48880, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 67 Days | +75.3% |
Summary: Homes in 48880 had an average of 67 days on market in Apr 2024, up by 75.3% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48880 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in 48880; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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