$4,988 Closing Credit*
$420,000
1,008 SqFt
3 Beds
•2 Full Baths
#50161552, Shelly Mueller, Listing Office: RE/MAX Eclipse New Baltimore
Is 48045, 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, 48045 has remained a Seller's Market.
Key Takeaway
48045 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48045, MI
How much do homes in 48045, MI cost?
Median Sold Price
$287,500
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$52,500(+22.3%)
Key Takeaway
Homes in 48045 have sold for 22.3% more than they did a year ago.
Summary: The median home sold price in 48045 was $287,500 in October 2024, up 22.3% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $119.9K | $99.9K | -16.7% |
| 2 Bedrooms | $175.2K | $186K | +6.1% |
| 3 Bedrooms | $270K | $335K | +24.1% |
| 4 Bedrooms | $385K | $510K | +32.5% |
| 5+ Bedrooms | $314.9K | $520K | +65.1% |
Summary: 48045 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 24.1%, 4 bedroom homes increased by 32.5%, and 5+ bedroom homes increased by 65.1%.
Housing Supply in 48045, MI
How many homes are available in 48045, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 107 | 115 | +7.5% |
Summary: The 48045 real estate market had 115 homes for sale in October 2024, a 7.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 33 | 38 | +15.2% |
| 3 Bedrooms | 45 | 48 | +6.7% |
| 4 Bedrooms | 24 | 22 | -8.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48045 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 31 | +40.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48045, you may be able to get a good deal. 45.2% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in 48045 in October 2024, up by 40.9% month-over-month. Of the 31 sold homes, 45% were sold under asking, 23% were sold at asking, and 32% were sold over asking.
Days on Market for 48045, MI
How long does it take to sell a home in 48045, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 22 Days | +29.3% |
Summary: Homes in 48045 had an average of 22 days on market in Oct 2024, up by 29.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48045 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 31 homes were sold in 48045; 77% of homes were sold within 30 days, 23% 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.