$4,631 Closing Credit*
$390,000
1,426 SqFt
3 Beds
•1 Full Bath
#50162823, Joe Militello, Listing Office: EXP Realty LLC
Is 48023, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48023 was a Seller's Market.
Key Takeaway
48023 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48023, MI
How much do homes in 48023, MI cost?
Median Sold Price
$365,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$90,050(+32.8%)
Key Takeaway
Homes in 48023 have sold for 32.8% more than they did a year ago.
Summary: The median home sold price in 48023 was $365,000 in November 2024, up 32.8% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $99.9K | N/A |
| 2 Bedrooms | $235K | $177.5K | -24.5% |
| 3 Bedrooms | $298.2K | $365K | +22.4% |
| 4 Bedrooms | $290K | $392K | +35.2% |
| 5+ Bedrooms | $190K | $392.5K | +106.6% |
Summary: 48023 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 24.5%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 35.2%, and 5+ bedroom homes increased by 106.6%.
Housing Supply in 48023, MI
How many homes are available in 48023, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The 48023 real estate market had 13 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48023 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was 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. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 48023 in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 9 Days | 17 Days | +78.9% |
Summary: Homes in 48023 had an average of 17 days on market in Nov 2024, up by 78.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48023 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in 48023; 50% of homes were sold within 30 days, 50% 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.