Is 48888, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 48888 has remained a Seller's Market.
Key Takeaway
48888 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48888, MI
How much do homes in 48888, MI cost?
Median Sold Price
$220,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48888 have sold for 25.7% more than they did a year ago.
Summary: The median home sold price in 48888 was $220,000 in April 2024, up 25.7% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | $125K | +47.1% |
| 2 Bedrooms | $138.5K | $130K | -6.1% |
| 3 Bedrooms | $191K | $194K | +1.6% |
| 4 Bedrooms | $275K | $220K | -20.0% |
| 5+ Bedrooms | $175K | $317.5K | +81.4% |
Summary: 48888 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.1%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 81.4%.
Median Sold Price Compared To Nearby Zip Codes
| 48888 | $175K | $220K | +25.7% |
| 48884 | $185K | $213.7K | +15.5% |
Housing Supply in 48888, MI
How many homes are available in 48888, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 16 | -5.9% |
Summary: The 48888 real estate market had 16 homes for sale in April 2024, a 5.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 7 | +133.3% |
| 3 Bedrooms | 11 | 8 | -27.3% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48888 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 133.3%, 3 bedroom homes decreased by 27.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48888, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 48888 in April 2024, down by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 48888, MI
How long does it take to sell a home in 48888, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 46 Days | 26 Days | -43.0% |
Summary: Homes in 48888 had an average of 26 days on market in Apr 2024, down by 43% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48888 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 48888; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.