$2,375 Closing Credit*
$200,000
1,008 SqFt
3 Beds
•1 Full Bath
Jennifer Turala, Listing Office: Metropolitan Real Estate Group
Is 48001, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 48001 has remained a Seller's Market.
Key Takeaway
48001 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48001, MI
How much do homes in 48001, MI cost?
Median Sold Price
$220,000
$186/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$64,000(-22.5%)
Key Takeaway
Homes in 48001 have sold for 22.5% less than they did a month ago.
Summary: The median home sold price in 48001 was $220,000 in November 2024, down 22.5% from last month, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $309.9K | -1.6% |
| 3 Bedrooms | $245K | $180K | -26.5% |
| 4 Bedrooms | $400K | $580K | +45.0% |
| 5+ Bedrooms | - | - | N/A |
Summary: 48001 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.6%, 3 bedroom homes decreased by 26.5%, 4 bedroom homes increased by 45%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48028 | $499K | $580K | +16.2% |
| 48001 | $284K | $220K | -22.5% |
Housing Supply in 48001, MI
How many homes are available in 48001, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 55 | 44 | -20.0% |
Summary: The 48001 real estate market had 44 homes for sale in November 2024, a 20.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 6 | -33.3% |
| 3 Bedrooms | 35 | 30 | -14.3% |
| 4 Bedrooms | 6 | 3 | -50.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 48001 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 9 | -43.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48001, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 48001 in November 2024, down by 43.8% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.
Days on Market for 48001, MI
How long does it take to sell a home in 48001, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 32 Days | +21.0% |
Summary: Homes in 48001 had an average of 32 days on market in Nov 2024, up by 21% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48001 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in 48001; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.