Is 48301, 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, 48301 has remained a Seller's Market.
Housing Prices in 48301, MI
How much do homes in 48301, MI cost?
Median Sold Price
$700,000
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48301 was $700,000 in April 2024, up 12% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $149.9K | N/A |
2 Bedrooms | $245K | $220K | -10.2% |
3 Bedrooms | $483K | $555K | +14.9% |
4 Bedrooms | $690K | $750K | +8.7% |
5+ Bedrooms | $1.1M | $1.0M | -8.8% |
Summary: 48301 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 10.2%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes decreased by 8.8%.
Housing Supply in 48301, MI
How many homes are available in 48301, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
47 | 47 | 0.0% |
Summary: The 48301 real estate market had 47 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 10 | 10 | 0.0% |
4 Bedrooms | 23 | 27 | +17.4% |
5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The 48301 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 decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
20 | 20 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 48301 in April 2024, the same as the previous month. Of the 20 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for 48301, MI
How long does it take to sell a home in 48301, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
192 Days | 13 Days | -92.9% |
Summary: Homes in 48301 had an average of 13 days on market in Apr 2024, down by 92.9% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 20 homes were sold in 48301; 90% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.