$3,919 Closing Credit*
$330,000
2,376 SqFt
5 Beds
•2 Full Baths
#50160559, Andrea Page, Listing Office: Great Lakes Realty and Property Management
Is 48074, 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, 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
$210,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$22,000(-9.5%)
Key Takeaway
Homes in 48074 have sold for 9.5% less than they did a year ago.
Summary: The median home sold price in 48074 was $210,000 in October 2024, down 9.5% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $100K | $100K | 0.0% |
| 3 Bedrooms | $203.5K | $210K | +3.2% |
| 4 Bedrooms | $277.5K | $282.4K | +1.8% |
| 5+ Bedrooms | $365K | $437K | +19.7% |
Summary: 48074 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 did not change, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 19.7%.
Housing Supply in 48074, MI
How many homes are available in 48074, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 30 | -3.2% |
Summary: The 48074 real estate market had 30 homes for sale in October 2024, a 3.2% 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 | 4 | 6 | +50.0% |
| 3 Bedrooms | 22 | 17 | -22.7% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48074 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 50%, 3 bedroom homes decreased by 22.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48074, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 48074 in October 2024, down by 40.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 44 Days | 26 Days | -40.6% |
Summary: Homes in 48074 had an average of 26 days on market in Oct 2024, down by 40.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were 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 October 2024, 6 homes were sold in 48074; 67% of homes were sold within 30 days, 33% 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.