Is 48092, 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, 48092 has remained a Seller's Market.
Housing Prices in 48092, MI
How much do homes in 48092, MI cost?
Median Sold Price
$250,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48092 was $250,000 in April 2024, up 8.6% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $105K | N/A |
2 Bedrooms | $196K | $224.5K | +14.5% |
3 Bedrooms | $222.8K | $250K | +12.2% |
4 Bedrooms | $301.2K | $300K | -0.4% |
5+ Bedrooms | $290.9K | $331K | +13.8% |
Summary: 48092 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 14.5%, 3 bedroom homes increased by 12.2%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 13.8%.
Housing Supply in 48092, MI
How many homes are available in 48092, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
36 | 52 | +44.4% |
Summary: The 48092 real estate market had 52 homes for sale in April 2024, a 44.4% 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 | 5 | 7 | +40.0% |
3 Bedrooms | 29 | 40 | +37.9% |
4 Bedrooms | 2 | 4 | +100.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48092 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 40%, 3 bedroom homes increased by 37.9%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 12 | -7.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in 48092 in April 2024, down by 7.7% month-over-month. Of the 12 sold homes, 25% were sold under asking, 8% were sold at asking, and 67% were sold over asking.
Days on Market for 48092, MI
How long does it take to sell a home in 48092, MI?
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in 48092; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.