Is 48082, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48082 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 48082 has remained a Seller's Market.

Key Takeaway

48082 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48082, MI

How much do homes in 48082, MI cost?

Median Sold Price

$235,000

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$29,000(+14.1%)

Key Takeaway

Homes in 48082 have sold for 14.1% more than they did a year ago.

Summary: The median home sold price in 48082 was $235,000 in October 2024, up 14.1% from last year, and the median price per square foot was $201.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $166.7K$181K
+8.6%
3 $210K$243K
+15.7%
4 $305K$265K
-13.1%
5+ $377.9K$319.7K
-15.4%

Summary: 48082 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 increased by 8.6%, 3 bedroom homes increased by 15.7%, 4 bedroom homes decreased by 13.1%, and 5+ bedroom homes decreased by 15.4%.

Median Sold Price Compared To Nearby Zip Codes

48045
+22.3%
48082
+14.1%
48035
+5.3%
48081
+5.3%

Housing Supply in 48082, MI

How many homes are available in 48082, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6766-1.5%

Summary: The 48082 real estate market had 66 homes for sale in October 2024, a 1.5% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 02
+100.0%
2 1413
-7.1%
3 5047
-6.0%
4 24
+100.0%
5+ 10
-100.0%

Summary: The 48082 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 6%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2417-29.2%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48082, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in 48082 in October 2024, down by 29.2% month-over-month. Of the 17 sold homes, 53% were sold under asking, 24% were sold at asking, and 24% were sold over asking.

Days on Market for 48082, MI

How long does it take to sell a home in 48082, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days44 Days+117.8%

Summary: Homes in 48082 had an average of 44 days on market in Oct 2024, up by 117.8% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48082 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 17 homes were sold in 48082; 53% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 48082, MI

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