$2,375 Closing Credit*
$200,000
945 SqFt
2 Beds
•1 Full Bath, 1 Partial
#50163240, Michelle Naumovski, Listing Office: RE/MAX First
Is 48051, 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, 48051 was a Buyer's Market.
Key Takeaway
48051 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48051, MI
How much do homes in 48051, MI cost?
Median Sold Price
$304,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$19,500(+6.9%)
Key Takeaway
Homes in 48051 have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in 48051 was $304,000 in November 2024, up 6.9% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $224K | $225K | 0.4% |
| 3 Bedrooms | $302.5K | $325K | +7.4% |
| 4 Bedrooms | $489.9K | $417.5K | -14.8% |
| 5+ Bedrooms | $410K | $562K | +37.1% |
Summary: 48051 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 0.4%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 14.8%, and 5+ bedroom homes increased by 37.1%.
Housing Supply in 48051, MI
How many homes are available in 48051, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 51 | 45 | -11.8% |
Summary: The 48051 real estate market had 45 homes for sale in November 2024, a 11.8% 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 | 18 | 24 | +33.3% |
| 3 Bedrooms | 26 | 16 | -38.5% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 48051 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 33.3%, 3 bedroom homes decreased by 38.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 10 | -44.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48051, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 48051 in November 2024, down by 44.4% month-over-month. Of the 10 sold homes, 70% were sold under asking, 0% were sold at asking, and 30% were sold over asking.
Days on Market for 48051, MI
How long does it take to sell a home in 48051, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 33 Days | +31.8% |
Summary: Homes in 48051 had an average of 33 days on market in Nov 2024, up by 31.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48051 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in 48051; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% 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.