Is 48239, 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, 48239 has remained a Seller's Market.
Housing Prices in 48239, MI
How much do homes in 48239, MI cost?
Median Sold Price
$171,071
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48239 was $171,071 in April 2024, up 6.9% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $43.2K | $46.5K | +7.5% |
2 Bedrooms | $99K | $107.7K | +8.8% |
3 Bedrooms | $160.2K | $172.4K | +7.6% |
4 Bedrooms | $205K | $199.5K | -2.7% |
5+ Bedrooms | $199.9K | $268K | +34.1% |
Summary: 48239 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 7.6%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 34.1%.
Housing Supply in 48239, MI
How many homes are available in 48239, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
134 | 141 | +5.2% |
Summary: The 48239 real estate market had 141 homes for sale in April 2024, a 5.2% 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 | 16 | 19 | +18.8% |
3 Bedrooms | 109 | 110 | +0.9% |
4 Bedrooms | 9 | 11 | +22.2% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48239 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 18.8%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
36 | 52 | +44.4% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 52 homes were sold or pending in 48239 in April 2024, up by 44.4% month-over-month. Of the 52 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 48239, MI
How long does it take to sell a home in 48239, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 21 Days | -38.4% |
Summary: Homes in 48239 had an average of 21 days on market in Apr 2024, down by 38.4% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 52 homes were sold in 48239; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.