Is 48915, 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, 48915 has remained a Seller's Market.
Key Takeaway
48915 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48915, MI
How much do homes in 48915, MI cost?
Median Sold Price
$124,000
$100/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 48915 have sold for 21% more than they did a year ago.
Summary: The median home sold price in 48915 was $124,000 in March 2024, up 21% from last year, and the median price per square foot was $100.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $41K | - | N/A |
| 2 Bedrooms | $65K | $84K | +29.2% |
| 3 Bedrooms | $120K | $129.5K | +7.9% |
| 4 Bedrooms | $160.5K | $176.9K | +10.2% |
| 5+ Bedrooms | $105K | - | N/A |
Summary: 48915 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29.2%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes did not change.
Housing Supply in 48915, MI
How many homes are available in 48915, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 52 | -16.1% |
Summary: The 48915 real estate market had 52 homes for sale in March 2024, a 16.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 22 | 16 | -27.3% |
| 3 Bedrooms | 33 | 29 | -12.1% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48915 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 27.3%, 3 bedroom homes decreased by 12.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48915, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 48915 in March 2024, up by 16.7% 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 48915, MI
How long does it take to sell a home in 48915, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 17 Days | -3.0% |
Summary: Homes in 48915 had an average of 17 days on market in Mar 2024, down by 3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48915 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in 48915; 79% 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.
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.