$10,000 Closing Credit*
$899,000
2,385 SqFt
4 Beds
•2 Full Baths, 1 Partial
Ali K Berry, Listing Office: Quest Realty LLC
Is 48070, 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, 48070 has remained a Seller's Market.
Key Takeaway
48070 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48070, MI
How much do homes in 48070, MI cost?
Median Sold Price
$500,000
$294/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,500(+2.4%)
Key Takeaway
Homes in 48070 have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in 48070 was $500,000 in October 2024, up 2.4% from last year, and the median price per square foot was $294.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $392K | $313K | -20.2% |
| 3 Bedrooms | $467.4K | $464K | -0.7% |
| 4 Bedrooms | $633.5K | $570K | -10.0% |
| 5+ Bedrooms | $1.3M | $930K | -30.8% |
Summary: 48070 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.2%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 30.8%.
Housing Supply in 48070, MI
How many homes are available in 48070, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 15 | -25.0% |
Summary: The 48070 real estate market had 15 homes for sale in October 2024, a 25.0% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 48070 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 37.5%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48070, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 48070 in October 2024, the same as the previous month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.
Days on Market for 48070, MI
How long does it take to sell a home in 48070, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 12 Days | +37.5% |
Summary: Homes in 48070 had an average of 12 days on market in Oct 2024, up by 37.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48070 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in 48070; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
