Is 48066, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48066 is a seller's market

Buyer's
Market

Difference Since October 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

$164,150

$149/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$13,150(+8.7%)

Key Takeaway

Homes in 48066 have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in 48066 was $164,150 in October 2024, up 8.7% from last year, and the median price per square foot was $149.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $69.5K$61K
-12.2%
2 $100K$129.9K
+29.9%
3 $162K$175K
+8.0%
4 $170.7K$202.4K
+18.6%
5+ $214.2K$202.5K
-5.5%

Summary: 48066 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.2%, 2 bedroom homes increased by 29.9%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes decreased by 5.5%.

Median Sold Price Compared To Nearby Zip Codes

48021
+12.8%
48066
+8.7%
48081
+5.3%
48088
+4.1%
48026
-1.1%

Housing Supply in 48066, MI

How many homes are available in 48066, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
199218+9.5%

Summary: The 48066 real estate market had 218 homes for sale in October 2024, a 9.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 57
+40.0%
2 3745
+21.6%
3 137141
+2.9%
4 1923
+21.1%
5+ 12
+100.0%

Summary: The 48066 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5260+15.4%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48066, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Summary: A total of 60 homes were sold or pending in 48066 in October 2024, up by 15.4% month-over-month. Of the 60 sold homes, 42% were sold under asking, 22% were sold at asking, and 37% 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

Oct 2023Oct 2024CHANGE
16 Days24 Days+54.0%

Summary: Homes in 48066 had an average of 24 days on market in Oct 2024, up by 54% compared to last year.

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48066 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 60 homes were sold in 48066; 70% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 48066, MI

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