$3,266 Closing Credit*
$274,999
1,311 SqFt
3 Beds
•1 Full Bath, 1 Partial
#50161541, Dana Sidick, Listing Office: Keller Williams Realty Lakeside
Is 48088, 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, 48088 has remained a Seller's Market.
Key Takeaway
48088 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48088, MI
How much do homes in 48088, MI cost?
Median Sold Price
$249,950
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,950(+4.1%)
Key Takeaway
Homes in 48088 have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in 48088 was $249,950 in October 2024, up 4.1% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75.7K | $80.2K | +5.9% |
| 2 Bedrooms | $169.9K | $169K | -0.5% |
| 3 Bedrooms | $240K | $252.5K | +5.2% |
| 4 Bedrooms | $273K | $275.8K | +1.0% |
| 5+ Bedrooms | $267.5K | $267.7K | 0.1% |
Summary: 48088 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 0.1%.
Housing Supply in 48088, MI
How many homes are available in 48088, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 75 | 83 | +10.7% |
Summary: The 48088 real estate market had 83 homes for sale in October 2024, a 10.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 4 | 7 | +75.0% |
| 3 Bedrooms | 57 | 60 | +5.3% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48088 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 5.3%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 30 | +25.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48088, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in 48088 in October 2024, up by 25.0% month-over-month. Of the 30 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.
Days on Market for 48088, MI
How long does it take to sell a home in 48088, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 21 Days | +16.7% |
Summary: Homes in 48088 had an average of 21 days on market in Oct 2024, up by 16.7% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48088 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 30 homes were sold in 48088; 77% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 3% 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.