$8,657 Closing Credit*
$729,000
4 Beds
•3 Full Baths
Steven Koleno, Listing Office: Beycome Brokerage Realty LLC
Is 48103, 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, 48103 has remained a Seller's Market.
Key Takeaway
48103 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48103, MI
How much do homes in 48103, MI cost?
Median Sold Price
$510,416
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,416(+3.1%)
Key Takeaway
Homes in 48103 have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in 48103 was $510,416 in November 2024, up 3.1% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $172.2K | +1.3% |
| 2 Bedrooms | $330K | $374.9K | +13.6% |
| 3 Bedrooms | $460K | $477.5K | +3.8% |
| 4 Bedrooms | $615K | $626.5K | +1.9% |
| 5+ Bedrooms | $830K | $865K | +4.2% |
Summary: 48103 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 4.2%.
Housing Supply in 48103, MI
How many homes are available in 48103, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 174 | 170 | -2.3% |
Summary: The 48103 real estate market had 170 homes for sale in November 2024, a 2.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 42 | 36 | -14.3% |
| 3 Bedrooms | 70 | 65 | -7.1% |
| 4 Bedrooms | 42 | 49 | +16.7% |
| 5+ Bedrooms | 15 | 15 | 0.0% |
Summary: The 48103 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 14.3%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 40 | 32 | -20.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48103, you may be able to get a good deal. 34.4% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in 48103 in November 2024, down by 20.0% month-over-month. Of the 32 sold homes, 34% were sold under asking, 34% were sold at asking, and 31% were sold over asking.
Days on Market for 48103, MI
How long does it take to sell a home in 48103, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 40 Days | +35.8% |
Summary: Homes in 48103 had an average of 40 days on market in Nov 2024, up by 35.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48103 has remained consistent over time.
Summary: During November 2024, 32 homes were sold in 48103; 38% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 9% 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.