Is 49048, 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, 49048 has remained a Seller's Market.
Key Takeaway
49048 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49048, MI
How much do homes in 49048, MI cost?
Median Sold Price
$190,950
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49048 have sold for 17.9% more than they did a year ago.
Summary: The median home sold price in 49048 was $190,950 in April 2024, up 17.9% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $89.5K | $115K | +28.5% |
| 2 Bedrooms | $119.8K | $143K | +19.3% |
| 3 Bedrooms | $176K | $199.9K | +13.6% |
| 4 Bedrooms | $239.1K | $290K | +21.3% |
| 5+ Bedrooms | $300K | $279.7K | -6.8% |
Summary: 49048 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.5%, 2 bedroom homes increased by 19.3%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes decreased by 6.8%.
Housing Supply in 49048, MI
How many homes are available in 49048, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 79 | 71 | -10.1% |
Summary: The 49048 real estate market had 71 homes for sale in April 2024, a 10.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 11 | 13 | +18.2% |
| 3 Bedrooms | 49 | 43 | -12.2% |
| 4 Bedrooms | 14 | 12 | -14.3% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 49048 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 12.2%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 22 | -8.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49048, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in 49048 in April 2024, down by 8.3% month-over-month. Of the 22 sold homes, 41% were sold under asking, 14% were sold at asking, and 45% were sold over asking.
Days on Market for 49048, MI
How long does it take to sell a home in 49048, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 13 Days | 11 Days | -14.2% |
Summary: Homes in 49048 had an average of 11 days on market in Apr 2024, down by 14.2% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49048 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in 49048; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
