Is 48006, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48006 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 48006 has remained a Seller's Market.

Key Takeaway

48006 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48006, MI

How much do homes in 48006, MI cost?

Median Sold Price

$295,000

$127/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$12,500(+4.4%)

Key Takeaway

Homes in 48006 have sold for 4.4% more than they did a month ago.

Summary: The median home sold price in 48006 was $295,000 in October 2024, up 4.4% from last month, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 $282.5K$238K
-15.8%
4 -$295K
N/A
5+ --
N/A

Summary: 48006 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 did not change, 3 bedroom homes decreased by 15.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

48027
+130.0%
48006
+4.4%
48097
-1.2%
48049
-12.0%
48032
-28.6%

Housing Supply in 48006, MI

How many homes are available in 48006, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1312-7.7%

Summary: The 48006 real estate market had 12 homes for sale in October 2024, a 7.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 97
-22.2%
4 34
+33.3%
5+ 00
0.0%

Summary: The 48006 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 remained the same, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48006, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 48006 in October 2024, down by 25.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 48006, MI

How long does it take to sell a home in 48006, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
56 Days42 Days-24.7%

Summary: Homes in 48006 had an average of 42 days on market in Oct 2024, down by 24.7% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 48006 has remained consistent over time.

Summary: During October 2024, 3 homes were sold in 48006; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 48006, MI

Nearby Markets to 48006, MI