$4,667 Closing Credit*
$393,000
1,616 SqFt
3 Beds
•2 Full Baths, 1 Partial
Kim Pizzo Smigielski, Listing Office: Nexus Real Estate LLC
Is 48094, 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, 48094 has remained a Seller's Market.
Key Takeaway
48094 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48094, MI
How much do homes in 48094, MI cost?
Median Sold Price
$433,292
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,234(+1.0%)
Key Takeaway
Homes in 48094 have sold for 1% more than they did a year ago.
Summary: The median home sold price in 48094 was $433,292 in October 2024, up 1% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $310K | $319.4K | +3.0% |
| 3 Bedrooms | $432K | $430K | -0.5% |
| 4 Bedrooms | $487.6K | $640K | +31.2% |
| 5+ Bedrooms | $1.0M | $851.5K | -21.3% |
Summary: 48094 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 3%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 31.2%, and 5+ bedroom homes decreased by 21.3%.
Housing Supply in 48094, MI
How many homes are available in 48094, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 60 | 71 | +18.3% |
Summary: The 48094 real estate market had 71 homes for sale in October 2024, a 18.3% 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 | 12 | 20 | +66.7% |
| 3 Bedrooms | 22 | 22 | 0.0% |
| 4 Bedrooms | 21 | 26 | +23.8% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 48094 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 66.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 20 | +66.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48094, you may be able to get a good deal. 55% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 48094 in October 2024, up by 66.7% month-over-month. Of the 20 sold homes, 55% were sold under asking, 30% were sold at asking, and 15% were sold over asking.
Days on Market for 48094, MI
How long does it take to sell a home in 48094, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 52 Days | 31 Days | -39.7% |
Summary: Homes in 48094 had an average of 31 days on market in Oct 2024, down by 39.7% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48094 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 48094; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% 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.