$3,088 Closing Credit*
$260,000
1,400 SqFt
2 Beds
•2 Full Baths
Ina St.Peter, Listing Office: Clients First, REALTORS®
Is 48092, 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, 48092 has remained a Seller's Market.
Key Takeaway
48092 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48092, MI
How much do homes in 48092, MI cost?
Median Sold Price
$251,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,000(+4.6%)
Key Takeaway
Homes in 48092 have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in 48092 was $251,000 in October 2024, up 4.6% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $105K | N/A |
| 2 Bedrooms | $216K | $200K | -7.4% |
| 3 Bedrooms | $239.9K | $255K | +6.3% |
| 4 Bedrooms | $285.2K | $314K | +10.1% |
| 5+ Bedrooms | $354.5K | $331K | -6.6% |
Summary: 48092 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 decreased by 7.4%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes decreased by 6.6%.
Housing Supply in 48092, MI
How many homes are available in 48092, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 89 | 101 | +13.5% |
Summary: The 48092 real estate market had 101 homes for sale in October 2024, a 13.5% 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 | 23 | 27 | +17.4% |
| 3 Bedrooms | 50 | 54 | +8.0% |
| 4 Bedrooms | 16 | 20 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48092 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 17.4%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 31 | +24.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48092, you could pay more than the asking price. 45.2% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in 48092 in October 2024, up by 24.0% month-over-month. Of the 31 sold homes, 35% were sold under asking, 19% were sold at asking, and 45% were sold over asking.
Days on Market for 48092, MI
How long does it take to sell a home in 48092, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 20 Days | -9.5% |
Summary: Homes in 48092 had an average of 20 days on market in Oct 2024, down by 9.5% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48092 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 31 homes were sold in 48092; 74% of homes were sold within 30 days, 23% 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.