Is 48304, 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, 48304 has remained a Seller's Market.
Housing Prices in 48304, MI
How much do homes in 48304, MI cost?
Median Sold Price
$488,083
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48304 was $488,083 in April 2024, up 8.5% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $108.7K | $122K | +12.2% |
2 Bedrooms | $319K | $256K | -19.7% |
3 Bedrooms | $420K | $450.4K | +7.2% |
4 Bedrooms | $560K | $624.9K | +11.6% |
5+ Bedrooms | $1.3M | $1.0M | -23.1% |
Summary: 48304 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes decreased by 19.7%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes decreased by 23.1%.
Housing Supply in 48304, MI
How many homes are available in 48304, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
82 | 87 | +6.1% |
Summary: The 48304 real estate market had 87 homes for sale in April 2024, a 6.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 0 | -100.0% |
2 Bedrooms | 13 | 9 | -30.8% |
3 Bedrooms | 26 | 28 | +7.7% |
4 Bedrooms | 21 | 30 | +42.9% |
5+ Bedrooms | 17 | 20 | +17.6% |
Summary: The 48304 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
26 | 25 | -3.8% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in 48304 in April 2024, down by 3.8% month-over-month. Of the 24 sold homes, 63% were sold under asking, 17% were sold at asking, and 21% were sold over asking.
Days on Market for 48304, MI
How long does it take to sell a home in 48304, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
6 Days | 28 Days | +377.3% |
Summary: Homes in 48304 had an average of 28 days on market in Apr 2024, up by 377.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 25 homes were sold in 48304; 76% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.