$3,052 Closing Credit*
$257,000
963 SqFt
3 Beds
•1 Full Bath
Barbara Chick, Listing Office: BHHS Michigan RE Great Lakes RH
Is 48083, 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, 48083 has remained a Seller's Market.
Key Takeaway
48083 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48083, MI
How much do homes in 48083, MI cost?
Median Sold Price
$341,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,000(+2.7%)
Key Takeaway
Homes in 48083 have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in 48083 was $341,000 in November 2024, up 2.7% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | - | N/A |
| 2 Bedrooms | $183.5K | $205K | +11.7% |
| 3 Bedrooms | $308.2K | $320K | +3.8% |
| 4 Bedrooms | $457.4K | $490K | +7.1% |
| 5+ Bedrooms | $475K | $386K | -18.7% |
Summary: 48083 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 11.7%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 18.7%.
Housing Supply in 48083, MI
How many homes are available in 48083, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 64 | 48 | -25.0% |
Summary: The 48083 real estate market had 48 homes for sale in November 2024, a 25.0% 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 | 8 | 8 | 0.0% |
| 3 Bedrooms | 37 | 28 | -24.3% |
| 4 Bedrooms | 15 | 11 | -26.7% |
| 5+ Bedrooms | 4 | 1 | -75.0% |
Summary: The 48083 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 24.3%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes decreased by 75%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 11 | -56.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48083, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 48083 in November 2024, down by 56.0% month-over-month. Of the 11 sold homes, 18% were sold under asking, 27% were sold at asking, and 55% were sold over asking.
Days on Market for 48083, MI
How long does it take to sell a home in 48083, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 12 Days | 14 Days | +13.8% |
Summary: Homes in 48083 had an average of 14 days on market in Nov 2024, up by 13.8% compared to last year.
Breakdown of Home Sale Times
9 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 48083 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in 48083; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
