$3,443 Closing Credit*
$289,900
1,510 SqFt
3 Beds
•2 Full Baths
Rachelle Bayliss, Listing Office: Realty Executives Home Towne
Is 48054, 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, 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
$377,500
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$42,500(+12.7%)
Key Takeaway
Homes in 48054 have sold for 12.7% more than they did a year ago.
Summary: The median home sold price in 48054 was $377,500 in October 2024, up 12.7% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65K | $160K | +146.2% |
| 2 Bedrooms | $255.7K | $240K | -6.2% |
| 3 Bedrooms | $356.1K | $387.5K | +8.8% |
| 4 Bedrooms | $373.6K | $515K | +37.8% |
| 5+ Bedrooms | $370K | - | N/A |
Summary: 48054 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 146.2%, 2 bedroom homes decreased by 6.2%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 37.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48054 | $335K | $377.5K | +12.7% |
| 48079 | $313K | $287.5K | -8.1% |
Housing Supply in 48054, MI
How many homes are available in 48054, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 34 | +3.0% |
Summary: The 48054 real estate market had 34 homes for sale in October 2024, a 3.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 8 | +60.0% |
| 3 Bedrooms | 18 | 14 | -22.2% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48054 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48054, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48054 in October 2024, up by 14.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 65 Days | 37 Days | -41.7% |
Summary: Homes in 48054 had an average of 37 days on market in Oct 2024, down by 41.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48054 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in 48054; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% 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.