Is 48041, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48041 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 48041 has remained a Seller's Market.

Key Takeaway

48041 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48041, MI

How much do homes in 48041, MI cost?

Median Sold Price

$216,875

$144/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$78,125(-26.5%)

Key Takeaway

Homes in 48041 have sold for 26.5% less than they did a month ago.

Summary: The median home sold price in 48041 was $216,875 in October 2024, down 26.5% from last month, and the median price per square foot was $144.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $182K-
N/A
3 $395K$208.4K
-47.2%
4 $250K$460K
+84.0%
5+ --
N/A

Summary: 48041 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 decreased by 47.2%, 4 bedroom homes increased by 84%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

48027
+130.0%
48062
+4.6%
48006
+4.4%
48022
-2.0%
48041
-26.5%

Housing Supply in 48041, MI

How many homes are available in 48041, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1413-7.1%

Summary: The 48041 real estate market had 13 homes for sale in October 2024, a 7.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 99
0.0%
4 43
-25.0%
5+ 01
+100.0%

Summary: The 48041 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 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48041, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 48041 in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for 48041, MI

How long does it take to sell a home in 48041, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
23 Days33 Days+41.9%

Summary: Homes in 48041 had an average of 33 days on market in Oct 2024, up by 41.9% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48041 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 5 homes were sold in 48041; 60% of homes were sold within 30 days, 40% 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 48041, MI

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