$2,077 Closing Credit*
$174,900
720 SqFt
2 Beds
•1 Full Bath
Donovan Clark-Thrash, Listing Office: Vylla Homes
Is 48054, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 48054 has remained a Seller's Market.
Key Takeaway
48054 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48054, MI
How much do homes in 48054, MI cost?
Median Sold Price
$395,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$57,500(+17.0%)
Key Takeaway
Homes in 48054 have sold for 17% more than they did a year ago.
Summary: The median home sold price in 48054 was $395,000 in November 2024, up 17% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65K | $160K | +146.2% |
| 2 Bedrooms | $208K | $250K | +20.1% |
| 3 Bedrooms | $375K | $398.5K | +6.3% |
| 4 Bedrooms | $373.6K | $462.5K | +23.8% |
| 5+ Bedrooms | $382.4K | - | N/A |
Summary: 48054 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 146.2%, 2 bedroom homes increased by 20.1%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48054 | $337.5K | $395K | +17.0% |
| 48079 | $301K | $285K | -5.3% |
Housing Supply in 48054, MI
How many homes are available in 48054, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 27 | -18.2% |
Summary: The 48054 real estate market had 27 homes for sale in November 2024, a 18.2% 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 | 8 | 6 | -25.0% |
| 3 Bedrooms | 14 | 11 | -21.4% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48054 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 decreased by 25%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48054, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48054 in November 2024, down by 44.4% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for 48054, MI
How long does it take to sell a home in 48054, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 64 Days | 18 Days | -70.9% |
Summary: Homes in 48054 had an average of 18 days on market in Nov 2024, down by 70.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48054 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in 48054; 80% of homes were sold within 30 days, 20% 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.