$3,206 Closing Credit*
$270,000
1,425 SqFt
3 Beds
•2 Full Baths, 1 Partial
#50163437, Eric Raymo, Listing Office: EXP Realty LLC
Is 48048, 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, 48048 was a Seller's Market.
Key Takeaway
48048 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48048, MI
How much do homes in 48048, MI cost?
Median Sold Price
$297,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$2,667(-0.9%)
Key Takeaway
Homes in 48048 have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in 48048 was $297,000 in November 2024, down 0.9% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $118.5K | $105K | -11.4% |
| 3 Bedrooms | $285.2K | $283K | -0.8% |
| 4 Bedrooms | $342.8K | $319.9K | -6.7% |
| 5+ Bedrooms | $262.5K | $356.2K | +35.7% |
Summary: 48048 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 11.4%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 35.7%.
Housing Supply in 48048, MI
How many homes are available in 48048, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 31 | +10.7% |
Summary: The 48048 real estate market had 31 homes for sale in November 2024, a 10.7% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48048 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 increased by 13.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48048, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 48048 in November 2024, down by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for 48048, MI
How long does it take to sell a home in 48048, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 82 Days | 167 Days | +102.2% |
Summary: Homes in 48048 had an average of 167 days on market in Nov 2024, up by 102.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48048 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in 48048; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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.