Is 48021, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48021 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 48021 has remained a Seller's Market.

Key Takeaway

48021 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48021, MI

How much do homes in 48021, MI cost?

Median Sold Price

$159,900

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$18,100(+12.8%)

Key Takeaway

Homes in 48021 have sold for 12.8% more than they did a year ago.

Summary: The median home sold price in 48021 was $159,900 in October 2024, up 12.8% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $30.2K$43.2K
+43.2%
2 $103.2K$115K
+11.4%
3 $147K$160K
+8.8%
4 $155K$182K
+17.4%
5+ $217K$219.9K
+1.3%

Summary: 48021 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.2%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 1.3%.

Median Sold Price Compared To Nearby Zip Codes

48080
+13.2%
48021
+12.8%
48066
+8.7%
48089
+7.1%
48081
+5.3%

Housing Supply in 48021, MI

How many homes are available in 48021, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
133148+11.3%

Summary: The 48021 real estate market had 148 homes for sale in October 2024, a 11.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 2027
+35.0%
3 96102
+6.3%
4 1518
+20.0%
5+ 10
-100.0%

Summary: The 48021 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 35%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3326-21.2%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48021, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in 48021 in October 2024, down by 21.2% month-over-month. Of the 26 sold homes, 42% were sold under asking, 12% were sold at asking, and 46% were sold over asking.

Days on Market for 48021, MI

How long does it take to sell a home in 48021, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days21 Days+2.6%

Summary: Homes in 48021 had an average of 21 days on market in Oct 2024, up by 2.6% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48021 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 26 homes were sold in 48021; 77% of homes were sold within 30 days, 23% 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 48021, MI

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