Is 48026, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48026 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 48026 has remained a Seller's Market.

Key Takeaway

48026 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48026, MI

How much do homes in 48026, MI cost?

Median Sold Price

$220,000

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$2,500(-1.1%)

Key Takeaway

Homes in 48026 have sold for 1.1% less than they did a year ago.

Summary: The median home sold price in 48026 was $220,000 in October 2024, down 1.1% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $67K$97.5K
+45.5%
2 $112K$149K
+33.0%
3 $233.5K$240K
+2.8%
4 $275K$281K
+2.2%
5+ -$252.5K
N/A

Summary: 48026 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.5%, 2 bedroom homes increased by 33%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

48066
+8.7%
48035
+5.3%
48026
-1.1%

Housing Supply in 48026, MI

How many homes are available in 48026, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3845+18.4%

Summary: The 48026 real estate market had 45 homes for sale in October 2024, a 18.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 1113
+18.2%
3 1522
+46.7%
4 1010
0.0%
5+ 10
-100.0%

Summary: The 48026 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 46.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
138-38.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48026, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in 48026 in October 2024, down by 38.5% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for 48026, MI

How long does it take to sell a home in 48026, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days24 Days+33.3%

Summary: Homes in 48026 had an average of 24 days on market in Oct 2024, up by 33.3% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48026 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in 48026; 63% of homes were sold within 30 days, 38% 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 48026, MI

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