Is 48235, 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, 48235 has remained a Seller's Market.
Key Takeaway
48235 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48235, MI
How much do homes in 48235, MI cost?
Median Sold Price
$90,000
$80/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 48235 have sold for 10% less than they did a year ago.
Summary: The median home sold price in 48235 was $90,000 in April 2024, down 10% from last year, and the median price per square foot was $80.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $61K | $55K | -9.8% |
| 3 Bedrooms | $105K | $95.9K | -8.7% |
| 4 Bedrooms | $130K | $140K | +7.7% |
| 5+ Bedrooms | $161K | $130K | -19.3% |
Summary: 48235 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 9.8%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 19.3%.
Housing Supply in 48235, MI
How many homes are available in 48235, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 221 | 237 | +7.2% |
Summary: The 48235 real estate market had 237 homes for sale in April 2024, a 7.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 32 | 33 | +3.1% |
| 3 Bedrooms | 172 | 183 | +6.4% |
| 4 Bedrooms | 13 | 17 | +30.8% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48235 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 42 | +20.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48235, you may be able to get a good deal. 54.8% of homes here sold below asking price last month.
Summary: A total of 42 homes were sold or pending in 48235 in April 2024, up by 20.0% month-over-month. Of the 42 sold homes, 55% were sold under asking, 14% were sold at asking, and 31% were sold over asking.
Days on Market for 48235, MI
How long does it take to sell a home in 48235, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 112 Days | 40 Days | -64.2% |
Summary: Homes in 48235 had an average of 40 days on market in Apr 2024, down by 64.2% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48235 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 42 homes were sold in 48235; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.