Is 48322, 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, 48322 has remained a Seller's Market.
Housing Prices in 48322, MI
How much do homes in 48322, MI cost?
Median Sold Price
$360,500
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48322 was $360,500 in April 2024, down 1.2% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.5K | $93.6K | +7.0% |
2 Bedrooms | $262.3K | $251K | -4.3% |
3 Bedrooms | $335K | $348.5K | +4.0% |
4 Bedrooms | $430K | $450.5K | +4.8% |
5+ Bedrooms | $619K | $640K | +3.4% |
Summary: 48322 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes decreased by 4.3%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 3.4%.
Housing Supply in 48322, MI
How many homes are available in 48322, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
83 | 99 | +19.3% |
Summary: The 48322 real estate market had 99 homes for sale in April 2024, a 19.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 27 | 31 | +14.8% |
3 Bedrooms | 18 | 27 | +50.0% |
4 Bedrooms | 29 | 31 | +6.9% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 48322 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 27 | -3.6% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in 48322 in April 2024, down by 3.6% month-over-month. Of the 27 sold homes, 56% were sold under asking, 19% were sold at asking, and 26% were sold over asking.
Days on Market for 48322, MI
How long does it take to sell a home in 48322, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
11 Days | 31 Days | +176.0% |
Summary: Homes in 48322 had an average of 31 days on market in Apr 2024, up by 176% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 27 homes were sold in 48322; 67% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.