Is 49548, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 49548 has remained a Seller's Market.
Key Takeaway
49548 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49548, MI
How much do homes in 49548, MI cost?
Median Sold Price
$233,333
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 49548 have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in 49548 was $233,333 in May 2024, up 11.1% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155.5K | $178K | +14.4% |
| 2 Bedrooms | $185K | $199.9K | +8.1% |
| 3 Bedrooms | $227K | $249K | +9.7% |
| 4 Bedrooms | $255K | $265K | +3.9% |
| 5+ Bedrooms | $260K | $309.9K | +19.2% |
Summary: 49548 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 19.2%.
Housing Supply in 49548, MI
How many homes are available in 49548, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 70 | 83 | +18.6% |
Summary: The 49548 real estate market had 83 homes for sale in May 2024, a 18.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 24 | 31 | +29.2% |
| 3 Bedrooms | 28 | 29 | +3.6% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 49548 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 29.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 33 | +73.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49548, you could pay more than the asking price. 57.6% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in 49548 in May 2024, up by 73.7% month-over-month. Of the 33 sold homes, 12% were sold under asking, 30% were sold at asking, and 58% were sold over asking.
Days on Market for 49548, MI
How long does it take to sell a home in 49548, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 12 Days | +22.4% |
Summary: Homes in 49548 had an average of 12 days on market in May 2024, up by 22.4% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 49548 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 33 homes were sold in 49548; 91% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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