$2,374 Closing Credit*
$199,900
930 SqFt
3 Beds
•1 Full Bath
Paul Gjelaj, Listing Office: eXp Realty, LLC
Is 48083, 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, 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
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,000(+4.0%)
Key Takeaway
Homes in 48083 have sold for 4% more than they did a year ago.
Summary: The median home sold price in 48083 was $341,000 in October 2024, up 4% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | - | N/A |
| 2 Bedrooms | $185K | $205K | +10.8% |
| 3 Bedrooms | $301.5K | $325K | +7.8% |
| 4 Bedrooms | $443.4K | $464.2K | +4.7% |
| 5+ Bedrooms | $475K | $427K | -10.1% |
Summary: 48083 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 10.8%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 10.1%.
Housing Supply in 48083, MI
How many homes are available in 48083, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 57 | 61 | +7.0% |
Summary: The 48083 real estate market had 61 homes for sale in October 2024, a 7.0% 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 | 4 | 7 | +75.0% |
| 3 Bedrooms | 28 | 37 | +32.1% |
| 4 Bedrooms | 20 | 13 | -35.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 48083 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 75%, 3 bedroom homes increased by 32.1%, 4 bedroom homes decreased by 35%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48083, you could pay more than the asking price. 45% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in 48083 in October 2024, up by 11.1% month-over-month. Of the 20 sold homes, 40% were sold under asking, 15% were sold at asking, and 45% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 15 Days | -20.8% |
Summary: Homes in 48083 had an average of 15 days on market in Oct 2024, down by 20.8% compared to last year.
Breakdown of Home Sale Times
18 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 October 2024, 20 homes were sold in 48083; 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.