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 4 Days Ago

Newest Listings in 48026, MI

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