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 21 Days Ago

Newest Listings in 48021, MI

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