Is 48306, 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, 48306 has remained a Seller's Market.
Housing Prices in 48306, MI
How much do homes in 48306, MI cost?
Median Sold Price
$533,722
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48306 was $533,722 in April 2024, up 0.7% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $130K | N/A |
2 Bedrooms | $258.5K | $279.2K | +8.0% |
3 Bedrooms | $420K | $459K | +9.3% |
4 Bedrooms | $595K | $625K | +5.0% |
5+ Bedrooms | $745K | $887.5K | +19.1% |
Summary: 48306 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 increased by 8%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 19.1%.
Housing Supply in 48306, MI
How many homes are available in 48306, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
82 | 86 | +4.9% |
Summary: The 48306 real estate market had 86 homes for sale in April 2024, a 4.9% 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 | 12 | 12 | 0.0% |
3 Bedrooms | 22 | 20 | -9.1% |
4 Bedrooms | 34 | 35 | +2.9% |
5+ Bedrooms | 14 | 19 | +35.7% |
Summary: The 48306 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 remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 35.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
26 | 29 | +11.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in 48306 in April 2024, up by 11.5% month-over-month. Of the 29 sold homes, 41% were sold under asking, 14% were sold at asking, and 45% were sold over asking.
Days on Market for 48306, MI
How long does it take to sell a home in 48306, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
126 Days | 51 Days | -59.0% |
Summary: Homes in 48306 had an average of 51 days on market in Apr 2024, down by 59% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 29 homes were sold in 48306; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.