Is 48089, 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, 48089 has remained a Seller's Market.
Housing Prices in 48089, MI
How much do homes in 48089, MI cost?
Median Sold Price
$120,000
$121/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48089 was $120,000 in April 2024, up 2.9% from last year, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $51.5K | - | N/A |
2 Bedrooms | $80K | $89.5K | +11.9% |
3 Bedrooms | $127.8K | $135K | +5.6% |
4 Bedrooms | $129K | $129K | 0.0% |
5+ Bedrooms | $167.5K | $173.5K | +3.6% |
Summary: 48089 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 5.6%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 3.6%.
Housing Supply in 48089, MI
How many homes are available in 48089, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
98 | 134 | +36.7% |
Summary: The 48089 real estate market had 134 homes for sale in April 2024, a 36.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 29 | 44 | +51.7% |
3 Bedrooms | 55 | 75 | +36.4% |
4 Bedrooms | 13 | 14 | +7.7% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48089 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 51.7%, 3 bedroom homes increased by 36.4%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
29 | 39 | +34.5% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 39 homes were sold or pending in 48089 in April 2024, up by 34.5% month-over-month. Of the 39 sold homes, 49% were sold under asking, 18% were sold at asking, and 33% were sold over asking.
Days on Market for 48089, MI
How long does it take to sell a home in 48089, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
3 Days | 27 Days | +821.4% |
Summary: Homes in 48089 had an average of 27 days on market in Apr 2024, up by 821.4% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 39 homes were sold in 48089; 72% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.