$5,641 Closing Credit*
$475,000
2,375 SqFt
3 Beds
•1 Full Bath, 1 Partial
Elizabeth Essad, Listing Office: DOBI Real Estate
Is 48025, 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, 48025 was a Neutral Market.
Key Takeaway
48025 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48025, MI
How much do homes in 48025, MI cost?
Median Sold Price
$583,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$28,950(+5.2%)
Key Takeaway
Homes in 48025 have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in 48025 was $583,000 in November 2024, up 5.2% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $423.7K | $355K | -16.2% |
| 3 Bedrooms | $425K | $505K | +18.8% |
| 4 Bedrooms | $610.5K | $672.5K | +10.2% |
| 5+ Bedrooms | $757.2K | $816.2K | +7.8% |
Summary: 48025 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 16.2%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 7.8%.
Housing Supply in 48025, MI
How many homes are available in 48025, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 69 | 66 | -4.3% |
Summary: The 48025 real estate market had 66 homes for sale in November 2024, a 4.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 27 | 32 | +18.5% |
| 4 Bedrooms | 34 | 27 | -20.6% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 48025 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 decreased by 25%, 3 bedroom homes increased by 18.5%, 4 bedroom homes decreased by 20.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48025, you may be able to get a good deal. 72.2% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 48025 in November 2024, up by 20.0% month-over-month. Of the 18 sold homes, 72% were sold under asking, 0% were sold at asking, and 28% were sold over asking.
Days on Market for 48025, MI
How long does it take to sell a home in 48025, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 18 Days | 29 Days | +61.8% |
Summary: Homes in 48025 had an average of 29 days on market in Nov 2024, up by 61.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48025 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 18 homes were sold in 48025; 72% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
