$2,611 Closing Credit*
$219,900
1,664 SqFt
3 Beds
•1 Full Bath
#50161057, Daniel Lovell, Listing Office: Ironstone Realty
Is 48027, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 48027 was a Neutral Market.
Key Takeaway
48027 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48027, MI
How much do homes in 48027, MI cost?
Median Sold Price
$463,500
$202/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$262,000(+130.0%)
Key Takeaway
Homes in 48027 have sold for 130% more than they did a month ago.
Summary: The median home sold price in 48027 was $463,500 in October 2024, up 130% from last month, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $318.5K | N/A |
| 3 Bedrooms | $201.5K | - | N/A |
| 4 Bedrooms | - | $550K | N/A |
| 5+ Bedrooms | - | $800K | N/A |
Summary: 48027 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 48027, MI
How many homes are available in 48027, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Summary: The 48027 real estate market had 9 homes for sale in October 2024, a 28.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48027 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 increased by 66.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48027, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 48027 in October 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 48027, MI
How long does it take to sell a home in 48027, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 87 Days | 20 Days | -77.0% |
Summary: Homes in 48027 had an average of 20 days on market in Oct 2024, down by 77% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48027 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 48027; 75% of homes were sold within 30 days, 25% 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.