Is 48035, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48035 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 48035 has remained a Seller's Market.

Key Takeaway

48035 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48035, MI

How much do homes in 48035, MI cost?

Median Sold Price

$220,000

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$11,000(+5.3%)

Key Takeaway

Homes in 48035 have sold for 5.3% more than they did a year ago.

Summary: The median home sold price in 48035 was $220,000 in October 2024, up 5.3% from last year, and the median price per square foot was $172.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$52K
N/A
2 $150.5K$158K
+5.0%
3 $205.5K$223K
+8.5%
4 $287.5K$295K
+2.6%
5+ $392K$283.7K
-27.6%

Summary: 48035 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 27.6%.

Median Sold Price Compared To Nearby Zip Codes

48045
+22.3%
48036
+17.3%
48082
+14.1%
48035
+5.3%

Housing Supply in 48035, MI

How many homes are available in 48035, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
108110+1.9%

Summary: The 48035 real estate market had 110 homes for sale in October 2024, a 1.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 33
0.0%
2 2421
-12.5%
3 6867
-1.5%
4 1117
+54.5%
5+ 22
0.0%

Summary: The 48035 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 decreased by 12.5%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 54.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3436+5.9%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48035, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in 48035 in October 2024, up by 5.9% month-over-month. Of the 36 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.

Days on Market for 48035, MI

How long does it take to sell a home in 48035, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
22 Days25 Days+13.1%

Summary: Homes in 48035 had an average of 25 days on market in Oct 2024, up by 13.1% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48035 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 36 homes were sold in 48035; 75% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 3% 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 48035, MI

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