$8,180 Closing Credit*
$688,800
1,780 SqFt
4 Beds
•2 Full Baths
Naser Derneika, Listing Office: Naser Derneika
Is 48104, 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, 48104 has remained a Seller's Market.
Key Takeaway
48104 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48104, MI
How much do homes in 48104, MI cost?
Median Sold Price
$509,950
$317/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$15,050(-2.9%)
Key Takeaway
Homes in 48104 have sold for 2.9% less than they did a year ago.
Summary: The median home sold price in 48104 was $509,950 in October 2024, down 2.9% from last year, and the median price per square foot was $317.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $228.7K | $252.5K | +10.4% |
| 2 Bedrooms | $288K | $305K | +5.9% |
| 3 Bedrooms | $525K | $522.6K | -0.4% |
| 4 Bedrooms | $675K | $700K | +3.7% |
| 5+ Bedrooms | $1.0M | $1.1M | +1.1% |
Summary: 48104 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 1.1%.
Housing Supply in 48104, MI
How many homes are available in 48104, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 89 | 103 | +15.7% |
Summary: The 48104 real estate market had 103 homes for sale in October 2024, a 15.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 8 | -20.0% |
| 2 Bedrooms | 21 | 20 | -4.8% |
| 3 Bedrooms | 28 | 37 | +32.1% |
| 4 Bedrooms | 17 | 21 | +23.5% |
| 5+ Bedrooms | 13 | 17 | +30.8% |
Summary: The 48104 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 32.1%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 30.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 27 | +68.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48104, you could pay more than the asking price. 48.1% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in 48104 in October 2024, up by 68.8% month-over-month. Of the 27 sold homes, 33% were sold under asking, 19% were sold at asking, and 48% were sold over asking.
Days on Market for 48104, MI
How long does it take to sell a home in 48104, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 58 Days | 25 Days | -55.9% |
Summary: Homes in 48104 had an average of 25 days on market in Oct 2024, down by 55.9% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48104 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 27 homes were sold in 48104; 67% of homes were sold within 30 days, 33% 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.