Is 48080, 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, 48080 has remained a Seller's Market.
Housing Prices in 48080, MI
How much do homes in 48080, MI cost?
Median Sold Price
$220,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48080 was $220,000 in April 2024, up 14.1% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80K | $92.5K | +15.6% |
2 Bedrooms | $142.5K | $157.9K | +10.9% |
3 Bedrooms | $205K | $228K | +11.2% |
4 Bedrooms | $265K | $284.5K | +7.4% |
5+ Bedrooms | $245K | $330K | +34.7% |
Summary: 48080 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 34.7%.
Housing Supply in 48080, MI
How many homes are available in 48080, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
55 | 68 | +23.6% |
Summary: The 48080 real estate market had 68 homes for sale in April 2024, a 23.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 17 | 22 | +29.4% |
3 Bedrooms | 33 | 39 | +18.2% |
4 Bedrooms | 2 | 3 | +50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48080 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 29.4%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 32 | +190.9% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in 48080 in April 2024, up by 190.9% month-over-month. Of the 32 sold homes, 59% were sold under asking, 6% were sold at asking, and 34% were sold over asking.
Days on Market for 48080, MI
How long does it take to sell a home in 48080, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
99 Days | 26 Days | -73.1% |
Summary: Homes in 48080 had an average of 26 days on market in Apr 2024, down by 73.1% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 32 homes were sold in 48080; 78% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.