Is 48302, 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, 48302 was a Buyer's Market.
Housing Prices in 48302, MI
How much do homes in 48302, MI cost?
Median Sold Price
$688,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48302 was $688,000 in April 2024, up 19.7% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $1.9M | - | N/A |
2 Bedrooms | $228.5K | $219.9K | -3.7% |
3 Bedrooms | $443.4K | $525K | +18.4% |
4 Bedrooms | $605K | $710K | +17.4% |
5+ Bedrooms | $1.2M | $920K | -29.0% |
Summary: 48302 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 3.7%, 3 bedroom homes increased by 18.4%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes decreased by 29%.
Housing Supply in 48302, MI
How many homes are available in 48302, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
71 | 92 | +29.6% |
Summary: The 48302 real estate market had 92 homes for sale in April 2024, a 29.6% 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 | 6 | 8 | +33.3% |
3 Bedrooms | 20 | 24 | +20.0% |
4 Bedrooms | 33 | 42 | +27.3% |
5+ Bedrooms | 11 | 17 | +54.5% |
Summary: The 48302 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 33.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 54.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 21 | +75.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in 48302 in April 2024, up by 75.0% month-over-month. Of the 21 sold homes, 57% were sold under asking, 5% were sold at asking, and 38% were sold over asking.
Days on Market for 48302, MI
How long does it take to sell a home in 48302, MI?
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 21 homes were sold in 48302; 67% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.