$4,156 Closing Credit*
$350,000
1,708 SqFt
3 Beds
•2 Full Baths, 1 Partial
Douglas Platonas, Listing Office: KW Metro
Is 48017, 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, 48017 has remained a Seller's Market.
Key Takeaway
48017 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48017, MI
How much do homes in 48017, MI cost?
Median Sold Price
$299,000
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,000(+6.8%)
Key Takeaway
Homes in 48017 have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in 48017 was $299,000 in October 2024, up 6.8% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191K | $130K | -31.9% |
| 2 Bedrooms | $210K | $227.4K | +8.3% |
| 3 Bedrooms | $283.7K | $300K | +5.7% |
| 4 Bedrooms | $346K | $371.4K | +7.3% |
| 5+ Bedrooms | $349.9K | $352.5K | +0.7% |
Summary: 48017 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.9%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 0.7%.
Housing Supply in 48017, MI
How many homes are available in 48017, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 31 | -8.8% |
Summary: The 48017 real estate market had 31 homes for sale in October 2024, a 8.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 23 | 20 | -13.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48017 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 40%, 3 bedroom homes decreased by 13%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48017, you could pay more than the asking price. 56.3% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in 48017 in October 2024, the same as the previous month. Of the 16 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% were sold over asking.
Days on Market for 48017, MI
How long does it take to sell a home in 48017, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 24 Days | +43.3% |
Summary: Homes in 48017 had an average of 24 days on market in Oct 2024, up by 43.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48017 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in 48017; 69% of homes were sold within 30 days, 25% 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.