$7,064 Closing Credit*
$594,900
3,759 SqFt
4 Beds
•2 Full Baths, 1 Partial
Kay Kasshamoun, Ziad Sitto, Listing Office: CRK Realty
Is 48042, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48042 was a Buyer'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
$465,027
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,027(+2.2%)
Key Takeaway
Homes in 48042 have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in 48042 was $465,027 in November 2024, up 2.2% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $288.5K | $316.2K | +9.6% |
| 3 Bedrooms | $413K | $430K | +4.1% |
| 4 Bedrooms | $530K | $550K | +3.8% |
| 5+ Bedrooms | $597.9K | $525K | -12.2% |
Summary: 48042 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 4.1%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 159 | 158 | -0.6% |
Summary: The 48042 real estate market had 158 homes for sale in November 2024, a 0.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 21 | 26 | +23.8% |
| 3 Bedrooms | 56 | 49 | -12.5% |
| 4 Bedrooms | 74 | 74 | 0.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The 48042 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 23.8%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 40 | 37 | -7.5% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48042, you may be able to get a good deal. 45.9% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in 48042 in November 2024, down by 7.5% month-over-month. Of the 37 sold homes, 46% were sold under asking, 35% were sold at asking, and 19% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 76 Days | +181.9% |
Summary: Homes in 48042 had an average of 76 days on market in Nov 2024, up by 181.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48042 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 37 homes were sold in 48042; 57% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 16% 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.