$3,561 Closing Credit*
$299,900
1,543 SqFt
3 Beds
•1 Full Bath, 1 Partial
Jessica A Belanger, Listing Office: RE/MAX Eclipse New Baltimore
Is 48047, 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, 48047 was a Seller's Market.
Key Takeaway
48047 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48047, MI
How much do homes in 48047, MI cost?
Median Sold Price
$336,416
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,416(+1.9%)
Key Takeaway
Homes in 48047 have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in 48047 was $336,416 in November 2024, up 1.9% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $67K | - | N/A |
| 2 Bedrooms | $192K | $190K | -1.0% |
| 3 Bedrooms | $325.4K | $337K | +3.6% |
| 4 Bedrooms | $400K | $440K | +10.0% |
| 5+ Bedrooms | $400K | $565K | +41.3% |
Summary: 48047 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 decreased by 1%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 41.3%.
Housing Supply in 48047, MI
How many homes are available in 48047, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 158 | 146 | -7.6% |
Summary: The 48047 real estate market had 146 homes for sale in November 2024, a 7.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 30 | 30 | 0.0% |
| 3 Bedrooms | 75 | 68 | -9.3% |
| 4 Bedrooms | 46 | 42 | -8.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 48047 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 remained the same, 3 bedroom homes decreased by 9.3%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 43 | 22 | -48.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48047, you could pay more than the asking price. 40.9% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in 48047 in November 2024, down by 48.8% month-over-month. Of the 22 sold homes, 32% were sold under asking, 27% were sold at asking, and 41% were sold over asking.
Days on Market for 48047, MI
How long does it take to sell a home in 48047, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 51 Days | 50 Days | -1.7% |
Summary: Homes in 48047 had an average of 50 days on market in Nov 2024, down by 1.7% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48047 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 22 homes were sold in 48047; 77% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 18% 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.