$5,461 Closing Credit*
$459,900
2,566 SqFt
4 Beds
•2 Full Baths, 1 Partial
Gerald Rutkowski, Listing Office: Ted Rutkowski Real Estate
Is 48059, 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, 48059 has remained a Seller's Market.
Key Takeaway
48059 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48059, MI
How much do homes in 48059, MI cost?
Median Sold Price
$263,950
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,950(+5.6%)
Key Takeaway
Homes in 48059 have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in 48059 was $263,950 in October 2024, up 5.6% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $87.9K | $111K | +26.3% |
| 2 Bedrooms | $200K | $214K | +7.0% |
| 3 Bedrooms | $231.9K | $272K | +17.3% |
| 4 Bedrooms | $339.9K | $280K | -17.6% |
| 5+ Bedrooms | $299K | $325K | +8.7% |
Summary: 48059 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.3%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 17.3%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Zip Codes
| 48059 | $250K | $263.9K | +5.6% |
| 48060 | $151.2K | $155K | +2.5% |
Housing Supply in 48059, MI
How many homes are available in 48059, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 51 | 51 | 0.0% |
Summary: The 48059 real estate market had 51 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 23 | 21 | -8.7% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The 48059 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 decreased by 11.1%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48059, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 48059 in October 2024, the same as the previous month. Of the 14 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for 48059, MI
How long does it take to sell a home in 48059, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 19 Days | -38.9% |
Summary: Homes in 48059 had an average of 19 days on market in Oct 2024, down by 38.9% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48059 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 48059; 86% of homes were sold within 30 days, 14% 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.