Is 48911, 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, 48911 has remained a Seller's Market.
Housing Prices in 48911, MI
How much do homes in 48911, MI cost?
Median Sold Price
$153,000
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48911 was $153,000 in April 2024, up 5.5% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $70K | $79.5K | +13.6% |
2 Bedrooms | $94.9K | $99K | +4.4% |
3 Bedrooms | $146.9K | $157.7K | +7.3% |
4 Bedrooms | $187.5K | $173.5K | -7.5% |
5+ Bedrooms | $230K | $350K | +52.2% |
Summary: 48911 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes increased by 52.2%.
Housing Supply in 48911, MI
How many homes are available in 48911, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
92 | 93 | +1.1% |
Summary: The 48911 real estate market had 93 homes for sale in April 2024, a 1.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 18 | 13 | -27.8% |
3 Bedrooms | 50 | 52 | +4.0% |
4 Bedrooms | 20 | 22 | +10.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48911 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 27.8%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
29 | 24 | -17.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in 48911 in April 2024, down by 17.2% month-over-month. Of the 24 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for 48911, MI
How long does it take to sell a home in 48911, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 19 Days | -19.5% |
Summary: Homes in 48911 had an average of 19 days on market in Apr 2024, down by 19.5% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 24 homes were sold in 48911; 75% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.