$3,858 Closing Credit*
$324,900
1,157 SqFt
2 Beds
•1 Full Bath
Peyton Engstrom, Jennifer Hemstrom, Listing Office: Thrive Realty Company
Is 48003, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48003 was a Seller's Market.
Key Takeaway
48003 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48003, MI
How much do homes in 48003, MI cost?
Median Sold Price
$348,450
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,450(+1.6%)
Key Takeaway
Homes in 48003 have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in 48003 was $348,450 in November 2024, up 1.6% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $249.9K | $211.5K | -15.4% |
| 3 Bedrooms | $308K | $340K | +10.4% |
| 4 Bedrooms | $437.5K | $407.5K | -6.9% |
| 5+ Bedrooms | $441.7K | - | N/A |
Summary: 48003 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48002 | $295K | $382.5K | +29.7% |
| 48065 | $400K | $420K | +5.0% |
| 48003 | $343K | $348.4K | +1.6% |
Housing Supply in 48003, MI
How many homes are available in 48003, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 32 | 0.0% |
Summary: The 48003 real estate market had 32 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48003 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48003, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48003 in November 2024, down by 37.5% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for 48003, MI
How long does it take to sell a home in 48003, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 154 Days | 28 Days | -81.5% |
Summary: Homes in 48003 had an average of 28 days on market in Nov 2024, down by 81.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48003 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in 48003; 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.