Is 48912, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 48912 has remained a Seller's Market.
Housing Prices in 48912, MI
How much do homes in 48912, MI cost?
Median Sold Price
$121,000
$108/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48912 was $121,000 in March 2024, up 0.9% from last year, and the median price per square foot was $108.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $46.9K | $60.2K | +28.3% |
2 Bedrooms | $92K | $90K | -2.2% |
3 Bedrooms | $137.6K | $133.5K | -3.0% |
4 Bedrooms | $161.9K | $196.5K | +21.4% |
5+ Bedrooms | $170K | $297.9K | +75.2% |
Summary: 48912 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.3%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 3%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 75.2%.
Housing Supply in 48912, MI
How many homes are available in 48912, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
66 | 71 | +7.6% |
Summary: The 48912 real estate market had 71 homes for sale in March 2024, a 7.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 20 | 17 | -15.0% |
3 Bedrooms | 35 | 40 | +14.3% |
4 Bedrooms | 9 | 13 | +44.4% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 48912 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 14 | -39.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 48912 in March 2024, down by 39.1% month-over-month. Of the 14 sold homes, 36% were sold under asking, 14% were sold at asking, and 50% were sold over asking.
Days on Market for 48912, MI
How long does it take to sell a home in 48912, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 19 Days | -37.7% |
Summary: Homes in 48912 had an average of 19 days on market in Mar 2024, down by 37.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in 48912; 86% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.