$4,274 Closing Credit*
$359,900
2,505 SqFt
5 Beds
•2 Full Baths, 1 Partial
#50160142, Patricia Derkacz, Listing Office: Realty Executives Home Towne Shelby
Is 48093, 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, 48093 has remained a Seller's Market.
Key Takeaway
48093 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48093, MI
How much do homes in 48093, MI cost?
Median Sold Price
$238,000
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,000(+6.7%)
Key Takeaway
Homes in 48093 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 48093 was $238,000 in October 2024, up 6.7% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $93K | $96.9K | +4.3% |
| 2 Bedrooms | $138K | $160K | +15.9% |
| 3 Bedrooms | $233.4K | $255K | +9.2% |
| 4 Bedrooms | $284.5K | $320K | +12.5% |
| 5+ Bedrooms | $210K | $370K | +76.2% |
Summary: 48093 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 76.2%.
Housing Supply in 48093, MI
How many homes are available in 48093, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 94 | 102 | +8.5% |
Summary: The 48093 real estate market had 102 homes for sale in October 2024, a 8.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 21 | 24 | +14.3% |
| 3 Bedrooms | 54 | 58 | +7.4% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48093 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 31 | +10.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48093, you may be able to get a good deal. 38.7% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in 48093 in October 2024, up by 10.7% month-over-month. Of the 31 sold homes, 39% were sold under asking, 23% were sold at asking, and 39% were sold over asking.
Days on Market for 48093, MI
How long does it take to sell a home in 48093, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 22 Days | +10.3% |
Summary: Homes in 48093 had an average of 22 days on market in Oct 2024, up by 10.3% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48093 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 31 homes were sold in 48093; 74% of homes were sold within 30 days, 26% 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.