Is 48895, 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, 48895 has remained a Seller's Market.
Housing Prices in 48895, MI
How much do homes in 48895, MI cost?
Median Sold Price
$286,350
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48895 was $286,350 in April 2024, down 1.3% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $177.5K | $187.5K | +5.6% |
2 Bedrooms | $173K | $173K | 0.0% |
3 Bedrooms | $259.9K | $273.5K | +5.2% |
4 Bedrooms | $343K | $450K | +31.2% |
5+ Bedrooms | $625K | $560K | -10.4% |
Summary: 48895 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes did not change, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 31.2%, and 5+ bedroom homes decreased by 10.4%.
Housing Supply in 48895, MI
How many homes are available in 48895, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
30 | 34 | +13.3% |
Summary: The 48895 real estate market had 34 homes for sale in April 2024, a 13.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 7 | 7 | 0.0% |
3 Bedrooms | 10 | 8 | -20.0% |
4 Bedrooms | 7 | 11 | +57.1% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 48895 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 20%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 10 | +25.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 48895 in April 2024, up by 25.0% month-over-month. Of the 10 sold homes, 60% were sold under asking, 10% were sold at asking, and 30% were sold over asking.
Days on Market for 48895, MI
How long does it take to sell a home in 48895, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 28 Days | -5.4% |
Summary: Homes in 48895 had an average of 28 days on market in Apr 2024, down by 5.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in 48895; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.