$3,907 Closing Credit*
$329,000
1,262 SqFt
3 Beds
•1 Full Bath
Kiara Nelson, Dominic Nelson, Listing Office: Keller Williams Ann Arbor
Is 48108, 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, 48108 has remained a Seller's Market.
Key Takeaway
48108 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48108, MI
How much do homes in 48108, MI cost?
Median Sold Price
$410,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$41,000(+11.1%)
Key Takeaway
Homes in 48108 have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in 48108 was $410,000 in October 2024, up 11.1% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $112.5K | N/A |
| 2 Bedrooms | $265K | $280K | +5.7% |
| 3 Bedrooms | $353K | $400K | +13.3% |
| 4 Bedrooms | $617.4K | $575K | -6.9% |
| 5+ Bedrooms | $904K | $825K | -8.7% |
Summary: 48108 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes decreased by 8.7%.
Housing Supply in 48108, MI
How many homes are available in 48108, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 61 | 67 | +9.8% |
Summary: The 48108 real estate market had 67 homes for sale in October 2024, a 9.8% 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 | 15 | 20 | +33.3% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 17 | 16 | -5.9% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 48108 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 33.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 22 | +83.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48108, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in 48108 in October 2024, up by 83.3% month-over-month. Of the 22 sold homes, 45% were sold under asking, 14% were sold at asking, and 41% were sold over asking.
Days on Market for 48108, MI
How long does it take to sell a home in 48108, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 61 Days | 49 Days | -19.8% |
Summary: Homes in 48108 had an average of 49 days on market in Oct 2024, down by 19.8% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48108 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 22 homes were sold in 48108; 50% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
