$5,332 Closing Credit*
$449,000
1,668 SqFt
3 Beds
•2 Full Baths, 1 Partial
James A Haidar, Listing Office: RE/MAX First
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
$284,000
$195/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$96,000(-25.3%)
Key Takeaway
Homes in 48001 have sold for 25.3% less than they did a month ago.
Summary: The median home sold price in 48001 was $284,000 in October 2024, down 25.3% from last month, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $362.5K | $315K | -13.1% |
| 3 Bedrooms | $395K | $245K | -38.0% |
| 4 Bedrooms | $469.9K | $400K | -14.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: 48001 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.1%, 3 bedroom homes decreased by 38%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48028 | $510K | $499K | -2.2% |
| 48001 | $380K | $284K | -25.3% |
Housing Supply in 48001, MI
How many homes are available in 48001, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 58 | 58 | 0.0% |
Summary: The 48001 real estate market had 58 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 9 | -35.7% |
| 3 Bedrooms | 33 | 38 | +15.2% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 48001 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 35.7%, 3 bedroom homes increased by 15.2%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48001, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 48001 in October 2024, up by 6.7% month-over-month. Of the 16 sold homes, 50% were sold under asking, 38% were sold at asking, and 13% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 26 Days | +30.9% |
Summary: Homes in 48001 had an average of 26 days on market in Oct 2024, up by 30.9% compared to last month.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48001 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in 48001; 63% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% 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.