$2,820 Closing Credit*
$237,500
1,247 SqFt
3 Beds
•2 Full Baths
#50163212, Lawrence Palleschi, Jr., Listing Office: Premier Properties Inc
Is 48059, 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, 48059 was a Neutral 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
$260,250
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,300(+4.1%)
Key Takeaway
Homes in 48059 have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in 48059 was $260,250 in November 2024, up 4.1% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $87.9K | $111K | +26.3% |
| 2 Bedrooms | $165K | $210K | +27.3% |
| 3 Bedrooms | $248K | $262.5K | +5.8% |
| 4 Bedrooms | $339.9K | $287.5K | -15.4% |
| 5+ Bedrooms | $299K | $335K | +12.0% |
Summary: 48059 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.3%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Zip Codes
| 48060 | $150K | $159.6K | +6.4% |
| 48059 | $249.9K | $260.2K | +4.1% |
Housing Supply in 48059, MI
How many homes are available in 48059, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 53 | 44 | -17.0% |
Summary: The 48059 real estate market had 44 homes for sale in November 2024, a 17.0% 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 | 22 | 20 | -9.1% |
| 4 Bedrooms | 14 | 13 | -7.1% |
| 5+ Bedrooms | 9 | 5 | -44.4% |
Summary: The 48059 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 9.1%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 44.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48059, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 48059 in November 2024, down by 18.8% month-over-month. Of the 13 sold homes, 46% were sold under asking, 23% were sold at asking, and 31% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 10 Days | 50 Days | +388.3% |
Summary: Homes in 48059 had an average of 50 days on market in Nov 2024, up by 388.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48059 has remained consistent over time.
Summary: During November 2024, 13 homes were sold in 48059; 31% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 23% 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.