Is 48315, 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, 48315 has remained a Seller's Market.
Housing Prices in 48315, MI
How much do homes in 48315, MI cost?
Median Sold Price
$440,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48315 was $440,000 in April 2024, up 2.8% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $240K | $250.7K | +4.5% |
3 Bedrooms | $410K | $440K | +7.3% |
4 Bedrooms | $540.5K | $555K | +2.7% |
5+ Bedrooms | $675K | $655.8K | -2.8% |
Summary: 48315 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 4.5%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 2.8%.
Housing Supply in 48315, MI
How many homes are available in 48315, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
52 | 74 | +42.3% |
Summary: The 48315 real estate market had 74 homes for sale in April 2024, a 42.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 17 | 22 | +29.4% |
3 Bedrooms | 17 | 21 | +23.5% |
4 Bedrooms | 15 | 27 | +80.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 48315 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 29.4%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 80%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 19 | +46.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in 48315 in April 2024, up by 46.2% month-over-month. Of the 19 sold homes, 53% were sold under asking, 16% were sold at asking, and 32% were sold over asking.
Days on Market for 48315, MI
How long does it take to sell a home in 48315, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
141 Days | 30 Days | -78.1% |
Summary: Homes in 48315 had an average of 30 days on market in Apr 2024, down by 78.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in 48315; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.