$6,116 Closing Credit*
$515,000
2,861 SqFt
4 Beds
•3 Full Baths
Terry Asmar, Listing Office: My Realty LLC
Is 48062, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 48062 was a Neutral Market.
Key Takeaway
48062 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48062, MI
How much do homes in 48062, MI cost?
Median Sold Price
$305,000
$190/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$13,500(+4.6%)
Key Takeaway
Homes in 48062 have sold for 4.6% more than they did a month ago.
Summary: The median home sold price in 48062 was $305,000 in October 2024, up 4.6% from last month, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $173K | $179.9K | +4.0% |
| 3 Bedrooms | $395K | $295K | -25.3% |
| 4 Bedrooms | - | $435.2K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48062 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4%, 3 bedroom homes decreased by 25.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48063 | $270K | $394K | +45.9% |
| 48062 | $291.5K | $305K | +4.6% |
| 48050 | $450K | $450K | 0.0% |
| 48064 | $341K | $277.5K | -18.6% |
| 48041 | $295K | $216.8K | -26.5% |
Housing Supply in 48062, MI
How many homes are available in 48062, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 47 | 52 | +10.6% |
Summary: The 48062 real estate market had 52 homes for sale in October 2024, a 10.6% 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 | 8 | 8 | 0.0% |
| 3 Bedrooms | 30 | 29 | -3.3% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The 48062 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 remained the same, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 11 | +57.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48062, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 48062 in October 2024, up by 57.1% month-over-month. Of the 11 sold homes, 27% were sold under asking, 27% were sold at asking, and 45% were sold over asking.
Days on Market for 48062, MI
How long does it take to sell a home in 48062, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 38 Days | +48.6% |
Summary: Homes in 48062 had an average of 38 days on market in Oct 2024, up by 48.6% compared to last month.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48062 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in 48062; 73% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 18% 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. 
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