Is 48912, 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, 48912 has remained a Seller's Market.
Housing Prices in 48912, MI
How much do homes in 48912, MI cost?
Median Sold Price
$129,000
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 48912 was $129,000 in April 2024, up 7.6% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $46.9K | $60.2K | +28.3% |
2 Bedrooms | $93K | $89.7K | -3.5% |
3 Bedrooms | $129.4K | $142.5K | +10.1% |
4 Bedrooms | $163.4K | $208K | +27.3% |
5+ Bedrooms | $170K | $297.9K | +75.2% |
Summary: 48912 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.3%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 75.2%.
Housing Supply in 48912, MI
How many homes are available in 48912, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
72 | 72 | 0.0% |
Summary: The 48912 real estate market had 72 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 18 | 16 | -11.1% |
3 Bedrooms | 37 | 38 | +2.7% |
4 Bedrooms | 16 | 17 | +6.3% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48912 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 decreased by 11.1%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 23 | +21.1% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in 48912 in April 2024, up by 21.1% month-over-month. Of the 23 sold homes, 52% were sold under asking, 9% were sold at asking, and 39% were sold over asking.
Days on Market for 48912, MI
How long does it take to sell a home in 48912, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 35 Days | +43.6% |
Summary: Homes in 48912 had an average of 35 days on market in Apr 2024, up by 43.6% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 23 homes were sold in 48912; 65% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.