$4,749 Closing Credit*
$399,900
1,553 SqFt
3 Beds
•3 Full Baths, 1 Partial
Randy Goodson, Listing Office: Real Estate One-Northville
Is 48105, 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, 48105 has remained a Seller's Market.
Key Takeaway
48105 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48105, MI
How much do homes in 48105, MI cost?
Median Sold Price
$547,497
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$27,497(+5.3%)
Key Takeaway
Homes in 48105 have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in 48105 was $547,497 in October 2024, up 5.3% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242.5K | $290K | +19.6% |
| 2 Bedrooms | $300.5K | $315K | +4.8% |
| 3 Bedrooms | $495.2K | $532K | +7.4% |
| 4 Bedrooms | $600K | $654.9K | +9.2% |
| 5+ Bedrooms | $792.5K | $883.2K | +11.4% |
Summary: 48105 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.6%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 11.4%.
Housing Supply in 48105, MI
How many homes are available in 48105, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 112 | 116 | +3.6% |
Summary: The 48105 real estate market had 116 homes for sale in October 2024, a 3.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 18 | 23 | +27.8% |
| 3 Bedrooms | 44 | 45 | +2.3% |
| 4 Bedrooms | 31 | 32 | +3.2% |
| 5+ Bedrooms | 18 | 16 | -11.1% |
Summary: The 48105 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 27.8%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 26 | -3.7% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48105, you may be able to get a good deal. 80.8% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in 48105 in October 2024, down by 3.7% month-over-month. Of the 26 sold homes, 81% were sold under asking, 8% were sold at asking, and 12% were sold over asking.
Days on Market for 48105, MI
How long does it take to sell a home in 48105, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 39 Days | 37 Days | -5.3% |
Summary: Homes in 48105 had an average of 37 days on market in Oct 2024, down by 5.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48105 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 26 homes were sold in 48105; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
