$40,000
5.00 Acres
Land
#50159974, Danielle Christoff, Listing Office: Realty Executives Home Towne
Is 48022, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 48022 has remained a Seller's Market.
Key Takeaway
48022 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48022, MI
How much do homes in 48022, MI cost?
Median Sold Price
$245,000
$184/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$5,000(-2.0%)
Key Takeaway
Homes in 48022 have sold for 2% less than they did a month ago.
Summary: The median home sold price in 48022 was $245,000 in October 2024, down 2% from last month, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | - | N/A |
| 3 Bedrooms | $263K | $245K | -6.9% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48022 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 6.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 48022, MI
How many homes are available in 48022, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Summary: The 48022 real estate market had 5 homes for sale in October 2024, a 28.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 3 | -40.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48022 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 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48022, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 48022 in October 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 48022, MI
How long does it take to sell a home in 48022, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 40 Days | +146.9% |
Summary: Homes in 48022 had an average of 40 days on market in Oct 2024, up by 146.9% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48022 has remained consistent over time.
Summary: During October 2024, 3 homes were sold in 48022; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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.