$2,969 Closing Credit*
$250,000
1,073 SqFt
3 Beds
•1 Full Bath, 2 Partial
Erik K Jurvis, Listing Office: DOBI Real Estate
Is 48071, 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, 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
$221,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,500(+11.9%)
Key Takeaway
Homes in 48071 have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in 48071 was $221,000 in October 2024, up 11.9% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $104.5K | $95K | -9.1% |
| 2 Bedrooms | $146.9K | $154.5K | +5.2% |
| 3 Bedrooms | $219K | $240K | +9.6% |
| 4 Bedrooms | $219.4K | $291.5K | +32.8% |
| 5+ Bedrooms | $313K | $297.5K | -5.0% |
Summary: 48071 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.1%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 32.8%, and 5+ bedroom homes decreased by 5%.
Housing Supply in 48071, MI
How many homes are available in 48071, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 77 | 99 | +28.6% |
Summary: The 48071 real estate market had 99 homes for sale in October 2024, a 28.6% 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 | 19 | 29 | +52.6% |
| 3 Bedrooms | 57 | 64 | +12.3% |
| 4 Bedrooms | 1 | 5 | +400.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48071 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 increased by 52.6%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 400%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 26 | +4.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48071, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 48071 in October 2024, up by 4.0% month-over-month. Of the 26 sold homes, 42% were sold under asking, 12% were sold at asking, and 46% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 23 Days | +145.4% |
Summary: Homes in 48071 had an average of 23 days on market in Oct 2024, up by 145.4% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
6 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 October 2024, 26 homes were sold in 48071; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 4% 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.