$1,781 Closing Credit*
$150,000
1,248 SqFt
3 Beds
•2 Full Baths
#50163444, Timothy McDonald, Listing Office: Real Estate One Inc-Shelby
Is 48066, 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, 48066 has remained a Seller's Market.
Key Takeaway
48066 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48066, MI
How much do homes in 48066, MI cost?
Median Sold Price
$165,000
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$14,333(+9.5%)
Key Takeaway
Homes in 48066 have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in 48066 was $165,000 in November 2024, up 9.5% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $69.5K | $62K | -10.8% |
| 2 Bedrooms | $101.5K | $130K | +28.0% |
| 3 Bedrooms | $160.3K | $175K | +9.1% |
| 4 Bedrooms | $167.5K | $212.5K | +26.9% |
| 5+ Bedrooms | $180K | $225K | +25.0% |
Summary: 48066 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.8%, 2 bedroom homes increased by 28%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 26.9%, and 5+ bedroom homes increased by 25%.
Housing Supply in 48066, MI
How many homes are available in 48066, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 211 | 195 | -7.6% |
Summary: The 48066 real estate market had 195 homes for sale in November 2024, a 7.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 6 | -25.0% |
| 2 Bedrooms | 42 | 41 | -2.4% |
| 3 Bedrooms | 136 | 127 | -6.6% |
| 4 Bedrooms | 23 | 20 | -13.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 48066 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 65 | 40 | -38.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48066, you could pay more than the asking price. 45% of homes here sold above asking price last month.
Summary: A total of 40 homes were sold or pending in 48066 in November 2024, down by 38.5% month-over-month. Of the 40 sold homes, 30% were sold under asking, 25% were sold at asking, and 45% were sold over asking.
Days on Market for 48066, MI
How long does it take to sell a home in 48066, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 24 Days | +18.2% |
Summary: Homes in 48066 had an average of 24 days on market in Nov 2024, up by 18.2% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48066 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 40 homes were sold in 48066; 63% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 3% 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.