$228,784
28.96 Acres
Land
#50163204, James Golembiewski, Listing Office: KW Platinum
Is 48097, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48097 was a Neutral Market.
Key Takeaway
48097 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48097, MI
How much do homes in 48097, MI cost?
Median Sold Price
$215,000
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$500(+0.2%)
Key Takeaway
The sold price of homes in 48097 has remained the same since last year.
Summary: The median home sold price in 48097 was $215,000 in November 2024, up 0.2% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $230.5K | $177.5K | -23.0% |
| 3 Bedrooms | $207.5K | $222K | +7.0% |
| 4 Bedrooms | $210.9K | $230.4K | +9.2% |
| 5+ Bedrooms | - | $299.9K | N/A |
Summary: 48097 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes did not change.
Housing Supply in 48097, MI
How many homes are available in 48097, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 18 | -18.2% |
Summary: The 48097 real estate market had 18 homes for sale in November 2024, a 18.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 17 | 14 | -17.6% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48097 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48097, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48097 in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for 48097, MI
How long does it take to sell a home in 48097, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 171 Days | 71 Days | -58.0% |
Summary: Homes in 48097 had an average of 71 days on market in Nov 2024, down by 58% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48097 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in 48097; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% 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. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.