$3,715,000
4,274 SqFt
4 Beds
•3 Full Baths, 1 Partial
Lisa Stelter, Brynn Stelter, Listing Office: The Charles Reinhart Company
Is 48105, 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, 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
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,497(+6.3%)
Key Takeaway
Homes in 48105 have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in 48105 was $547,497 in November 2024, up 6.3% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249K | $300K | +20.5% |
| 2 Bedrooms | $301K | $310K | +3.0% |
| 3 Bedrooms | $478.2K | $535K | +11.9% |
| 4 Bedrooms | $605K | $655K | +8.3% |
| 5+ Bedrooms | $817.5K | $1.0M | +29.1% |
Summary: 48105 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.5%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 29.1%.
Housing Supply in 48105, MI
How many homes are available in 48105, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 111 | 97 | -12.6% |
Summary: The 48105 real estate market had 97 homes for sale in November 2024, a 12.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 21 | 19 | -9.5% |
| 3 Bedrooms | 43 | 38 | -11.6% |
| 4 Bedrooms | 31 | 28 | -9.7% |
| 5+ Bedrooms | 16 | 11 | -31.3% |
Summary: The 48105 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes decreased by 11.6%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes decreased by 31.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 24 | -14.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48105, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 48105 in November 2024, down by 14.3% month-over-month. Of the 24 sold homes, 46% were sold under asking, 25% were sold at asking, and 29% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 44 Days | 56 Days | +28.1% |
Summary: Homes in 48105 had an average of 56 days on market in Nov 2024, up by 28.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48105 has remained consistent over time.
Summary: During November 2024, 24 homes were sold in 48105; 38% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
