$2,316 Closing Credit*
$195,000
2,040 SqFt
3 Beds
•1 Full Bath, 1 Partial
Jason Robinson, Listing Office: Real Estate One Plymouth 2
Is 48101, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 48101 has remained a Seller's Market.
Key Takeaway
48101 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48101, MI
How much do homes in 48101, MI cost?
Median Sold Price
$215,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,066(+7.5%)
Key Takeaway
Homes in 48101 have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in 48101 was $215,000 in November 2024, up 7.5% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60K | $80K | +33.3% |
| 2 Bedrooms | $159.9K | $150K | -6.2% |
| 3 Bedrooms | $201K | $215K | +7.0% |
| 4 Bedrooms | $239K | $241.5K | +1.0% |
| 5+ Bedrooms | $237.5K | $300K | +26.3% |
Summary: 48101 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 6.2%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 26.3%.
Housing Supply in 48101, MI
How many homes are available in 48101, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 84 | 82 | -2.4% |
Summary: The 48101 real estate market had 82 homes for sale in November 2024, a 2.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 67 | 64 | -4.5% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48101 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 increased by 28.6%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 25 | -3.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48101, you may be able to get a good deal. 36% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in 48101 in November 2024, down by 3.8% month-over-month. Of the 25 sold homes, 36% were sold under asking, 32% were sold at asking, and 32% were sold over asking.
Days on Market for 48101, MI
How long does it take to sell a home in 48101, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 9 Days | 26 Days | +175.1% |
Summary: Homes in 48101 had an average of 26 days on market in Nov 2024, up by 175.1% compared to last year.
Breakdown of Home Sale Times
17 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 48101 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 25 homes were sold in 48101; 68% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
