Is 48911, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$150,000
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 48911 was $150,000 in February 2024, up 3.5% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $67.5K | $76K | +12.6% |
2 Bedrooms | $93K | $95.6K | +2.8% |
3 Bedrooms | $146.9K | $157K | +6.9% |
4 Bedrooms | $188.7K | $174K | -7.8% |
5+ Bedrooms | $215K | $357.5K | +66.3% |
Summary: 48911 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes increased by 66.3%.
Housing Supply in 48911, MI
How many homes are available in 48911, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
76 | 93 | +22.4% |
Summary: The 48911 real estate market had 93 homes for sale in February 2024, a 22.4% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 16 | 21 | +31.3% |
3 Bedrooms | 39 | 50 | +28.2% |
4 Bedrooms | 18 | 18 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48911 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 31.3%, 3 bedroom homes increased by 28.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
17 | 27 | +58.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in 48911 in February 2024, up by 58.8% month-over-month. Of the 27 sold homes, 33% were sold under asking, 30% were sold at asking, and 37% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
36 Days | 35 Days | -3.2% |
Summary: Homes in 48911 had an average of 35 days on market in Feb 2024, down by 3.2% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 27 homes were sold in 48911; 63% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.