$754,000
75.41 Acres
Land
#50163234, James Golembiewski, Listing Office: KW Platinum
Is 48074, 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, 48074 has remained a Seller's Market.
Key Takeaway
48074 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48074, MI
How much do homes in 48074, MI cost?
Median Sold Price
$211,000
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$22,450(-9.6%)
Key Takeaway
Homes in 48074 have sold for 9.6% less than they did a year ago.
Summary: The median home sold price in 48074 was $211,000 in November 2024, down 9.6% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $100K | $115K | +15.0% |
| 3 Bedrooms | $235K | $249K | +6.0% |
| 4 Bedrooms | $277.5K | $260K | -6.3% |
| 5+ Bedrooms | $332.4K | $437K | +31.4% |
Summary: 48074 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 6%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 31.4%.
Housing Supply in 48074, MI
How many homes are available in 48074, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 | 32 | -5.9% |
Summary: The 48074 real estate market had 32 homes for sale in November 2024, a 5.9% 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 21 | 20 | -4.8% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48074 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 remained the same, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48074, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 48074 in November 2024, up by 42.9% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for 48074, MI
How long does it take to sell a home in 48074, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 14 Days | -57.4% |
Summary: Homes in 48074 had an average of 14 days on market in Nov 2024, down by 57.4% compared to last year.
Breakdown of Home Sale Times
9 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 48074 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in 48074; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% 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.