Is 48917, 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, 48917 has remained a Seller's Market.
Housing Prices in 48917, MI
How much do homes in 48917, MI cost?
Median Sold Price
$240,000
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 48917 was $240,000 in March 2024, up 11.6% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $63.4K | $43.5K | -31.4% |
2 Bedrooms | $160K | $174.9K | +9.3% |
3 Bedrooms | $200K | $231K | +15.5% |
4 Bedrooms | $271.5K | $291.2K | +7.3% |
5+ Bedrooms | $460K | $398.2K | -13.4% |
Summary: 48917 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.4%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 13.4%.
Housing Supply in 48917, MI
How many homes are available in 48917, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
71 | 65 | -8.5% |
Summary: The 48917 real estate market had 65 homes for sale in March 2024, a 8.5% decrease 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 | 16 | 16 | 0.0% |
3 Bedrooms | 36 | 29 | -19.4% |
4 Bedrooms | 13 | 13 | 0.0% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 48917 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 remained the same, 3 bedroom homes decreased by 19.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 18 | -25.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 48917 in March 2024, down by 25.0% month-over-month. Of the 18 sold homes, 39% were sold under asking, 22% were sold at asking, and 39% were sold over asking.
Days on Market for 48917, MI
How long does it take to sell a home in 48917, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
26 Days | 13 Days | -48.8% |
Summary: Homes in 48917 had an average of 13 days on market in Mar 2024, down by 48.8% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in 48917; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.