$2,975,000
7,080 SqFt
7 Beds
•6 Full Baths, 2 Partial
Sarah Skousen, Listing Office: @properties Christie's Int'l R.E. Birmingham
Is 48009, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 48009 has remained a Seller's Market.
Key Takeaway
48009 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48009, MI
How much do homes in 48009, MI cost?
Median Sold Price
$813,000
$377/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$79,733(+10.9%)
Key Takeaway
Homes in 48009 have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in 48009 was $813,000 in October 2024, up 10.9% from last year, and the median price per square foot was $377.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $185K | -40.3% |
| 2 Bedrooms | $342.5K | $362.5K | +5.8% |
| 3 Bedrooms | $557.5K | $585K | +4.9% |
| 4 Bedrooms | $1.0M | $1.1M | +11.2% |
| 5+ Bedrooms | $2.0M | $1.9M | -2.8% |
Summary: 48009 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40.3%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes decreased by 2.8%.
Housing Supply in 48009, MI
How many homes are available in 48009, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 137 | 153 | +11.7% |
Summary: The 48009 real estate market had 153 homes for sale in October 2024, a 11.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 10 | 0.0% |
| 2 Bedrooms | 17 | 21 | +23.5% |
| 3 Bedrooms | 38 | 43 | +13.2% |
| 4 Bedrooms | 42 | 47 | +11.9% |
| 5+ Bedrooms | 30 | 32 | +6.7% |
Summary: The 48009 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 increased by 23.5%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 35 | +9.4% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48009, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in 48009 in October 2024, up by 9.4% month-over-month. Of the 35 sold homes, 43% were sold under asking, 23% were sold at asking, and 34% were sold over asking.
Days on Market for 48009, MI
How long does it take to sell a home in 48009, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 20 Days | -52.8% |
Summary: Homes in 48009 had an average of 20 days on market in Oct 2024, down by 52.8% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48009 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 35 homes were sold in 48009; 80% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
