Is 48234, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 48234 was a Seller's Market.
Housing Prices in 48234, MI
How much do homes in 48234, MI cost?
Median Sold Price
$53,000
$51/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48234 was $53,000 in April 2024, up 6% from last year, and the median price per square foot was $51.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $35K | $40K | +14.3% |
3 Bedrooms | $50K | $55K | +10.0% |
4 Bedrooms | $89K | $58.5K | -34.3% |
5+ Bedrooms | $36.5K | $47.5K | +30.1% |
Summary: 48234 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 14.3%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 34.3%, and 5+ bedroom homes increased by 30.1%.
Housing Supply in 48234, MI
How many homes are available in 48234, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
139 | 148 | +6.5% |
Summary: The 48234 real estate market had 148 homes for sale in April 2024, a 6.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 22 | 28 | +27.3% |
3 Bedrooms | 101 | 103 | +2.0% |
4 Bedrooms | 10 | 12 | +20.0% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 48234 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 27.3%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
26 | 18 | -30.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 48234 in April 2024, down by 30.8% month-over-month. Of the 18 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for 48234, MI
How long does it take to sell a home in 48234, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
50 Days | 52 Days | +4.3% |
Summary: Homes in 48234 had an average of 52 days on market in Apr 2024, up by 4.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in 48234; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.