Is 48892, 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, 48892 has remained a Seller's Market.
Key Takeaway
48892 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48892, MI
How much do homes in 48892, MI cost?
Median Sold Price
$228,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48892 have sold for 5% less than they did a year ago.
Summary: The median home sold price in 48892 was $228,000 in April 2024, down 5% 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 | $72K | - | N/A |
| 2 Bedrooms | $175K | $178.9K | +2.3% |
| 3 Bedrooms | $230K | $210K | -8.7% |
| 4 Bedrooms | $325K | $322K | -0.9% |
| 5+ Bedrooms | $310.8K | $329.8K | +6.1% |
Summary: 48892 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.3%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 6.1%.
Housing Supply in 48892, MI
How many homes are available in 48892, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Summary: The 48892 real estate market had 7 homes for sale in April 2024, a 36.4% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 9 | 6 | -33.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48892 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 decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48892, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in 48892 in April 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for 48892, MI
How long does it take to sell a home in 48892, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 38 Days | +242.3% |
Summary: Homes in 48892 had an average of 38 days on market in Apr 2024, up by 242.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was 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 48892 has remained consistent over time.
Summary: During April 2024, 3 homes were sold in 48892; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.