$2,613 Closing Credit*
$220,000
1,656 SqFt
3 Beds
•1 Full Bath, 1 Partial
Mark Whitehead, Listing Office: EXP Realty - Mark White & Associates
Is 48071, 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, 48071 has remained a Seller's Market.
Key Takeaway
48071 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48071, MI
How much do homes in 48071, MI cost?
Median Sold Price
$222,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$22,000(+11.0%)
Key Takeaway
Homes in 48071 have sold for 11% more than they did a year ago.
Summary: The median home sold price in 48071 was $222,000 in November 2024, up 11% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102K | $95K | -6.9% |
| 2 Bedrooms | $145K | $153K | +5.5% |
| 3 Bedrooms | $224.9K | $240K | +6.7% |
| 4 Bedrooms | $219.4K | $312.5K | +42.4% |
| 5+ Bedrooms | $319K | $297.5K | -6.7% |
Summary: 48071 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.9%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 42.4%, and 5+ bedroom homes decreased by 6.7%.
Housing Supply in 48071, MI
How many homes are available in 48071, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 102 | 84 | -17.6% |
Summary: The 48071 real estate market had 84 homes for sale in November 2024, a 17.6% 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 | 30 | 24 | -20.0% |
| 3 Bedrooms | 68 | 55 | -19.1% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48071 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 20%, 3 bedroom homes decreased by 19.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 30 | +3.4% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48071, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in 48071 in November 2024, up by 3.4% month-over-month. Of the 30 sold homes, 47% were sold under asking, 13% were sold at asking, and 40% were sold over asking.
Days on Market for 48071, MI
How long does it take to sell a home in 48071, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 16 Days | +19.5% |
Summary: Homes in 48071 had an average of 16 days on market in Nov 2024, up by 19.5% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48071 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 30 homes were sold in 48071; 87% of homes were sold within 30 days, 10% 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.