$175,000
0.17 Acres
Land
#50160333, Melanie Lovati, Listing Office: Innovation Real Estate Specialists Inc.
Is 48023, 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, 48023 has remained a Buyer's Market.
Key Takeaway
48023 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48023, MI
How much do homes in 48023, MI cost?
Median Sold Price
$365,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$80,000(+28.1%)
Key Takeaway
Homes in 48023 have sold for 28.1% more than they did a year ago.
Summary: The median home sold price in 48023 was $365,000 in October 2024, up 28.1% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $99.9K | N/A |
| 2 Bedrooms | $330K | $223.7K | -32.2% |
| 3 Bedrooms | $285K | $365K | +28.1% |
| 4 Bedrooms | $290K | $392K | +35.2% |
| 5+ Bedrooms | - | $365K | N/A |
Summary: 48023 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 32.2%, 3 bedroom homes increased by 28.1%, 4 bedroom homes increased by 35.2%, and 5+ bedroom homes did not change.
Housing Supply in 48023, MI
How many homes are available in 48023, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Summary: The 48023 real estate market had 12 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 7 | 3 | -57.1% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48023 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 100%, 3 bedroom homes decreased by 57.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 1 | -80.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48023, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 48023 in October 2024, down by 80.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48023, MI
How long does it take to sell a home in 48023, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 53 Days | 93 Days | +75.5% |
Summary: Homes in 48023 had an average of 93 days on market in Oct 2024, up by 75.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 48023 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 1 homes were sold in 48023; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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.