$7,064 Closing Credit*
$594,900
2,700 SqFt
4 Beds
•2 Full Baths, 1 Partial
John DiPiazza, Listing Office: EXP Realty Rochester
Is 48042, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 48042 has remained a Seller's Market.
Key Takeaway
48042 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48042, MI
How much do homes in 48042, MI cost?
Median Sold Price
$459,900
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,933(+1.1%)
Key Takeaway
Homes in 48042 have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in 48042 was $459,900 in October 2024, up 1.1% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $274.5K | $316.2K | +15.2% |
| 3 Bedrooms | $413K | $425K | +2.9% |
| 4 Bedrooms | $530K | $550K | +3.8% |
| 5+ Bedrooms | $597.9K | $525K | -12.2% |
Summary: 48042 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 15.2%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 12.2%.
Housing Supply in 48042, MI
How many homes are available in 48042, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 173 | 160 | -7.5% |
Summary: The 48042 real estate market had 160 homes for sale in October 2024, a 7.5% decrease 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 | 18 | 18 | 0.0% |
| 3 Bedrooms | 78 | 60 | -23.1% |
| 4 Bedrooms | 70 | 75 | +7.1% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The 48042 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 remained the same, 3 bedroom homes decreased by 23.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 53 | 33 | -37.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48042, you could pay more than the asking price. 51.5% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in 48042 in October 2024, down by 37.7% month-over-month. Of the 33 sold homes, 36% were sold under asking, 12% were sold at asking, and 52% were sold over asking.
Days on Market for 48042, MI
How long does it take to sell a home in 48042, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 25 Days | -10.1% |
Summary: Homes in 48042 had an average of 25 days on market in Oct 2024, down by 10.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48042 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 33 homes were sold in 48042; 70% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 3% 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. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.