Is 48230, 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, 48230 has remained a Seller's Market.
Housing Prices in 48230, MI
How much do homes in 48230, MI cost?
Median Sold Price
$429,500
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48230 was $429,500 in April 2024, up 18.9% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79K | - | N/A |
2 Bedrooms | $278.7K | $220K | -21.1% |
3 Bedrooms | $322.5K | $404.9K | +25.6% |
4 Bedrooms | $425K | $487.5K | +14.7% |
5+ Bedrooms | $601K | $560K | -6.8% |
Summary: 48230 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 decreased by 21.1%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes decreased by 6.8%.
Housing Supply in 48230, MI
How many homes are available in 48230, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 46 | +48.4% |
Summary: The 48230 real estate market had 46 homes for sale in April 2024, a 48.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 2 | +100.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 8 | 9 | +12.5% |
4 Bedrooms | 12 | 21 | +75.0% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The 48230 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 11 | +83.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 48230 in April 2024, up by 83.3% month-over-month. Of the 11 sold homes, 18% were sold under asking, 27% were sold at asking, and 55% were sold over asking.
Days on Market for 48230, MI
How long does it take to sell a home in 48230, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
8 Days | 10 Days | +35.2% |
Summary: Homes in 48230 had an average of 10 days on market in Apr 2024, up by 35.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in 48230; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.