$3,978 Closing Credit*
$335,000
1,700 SqFt
3 Beds
•2 Full Baths
Nancy Bishop, Listing Office: The Charles Reinhart Company
Is 48108, 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, 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
$399,950
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,950(+6.7%)
Key Takeaway
Homes in 48108 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 48108 was $399,950 in November 2024, up 6.7% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $125K | +13.6% |
| 2 Bedrooms | $269.2K | $279K | +3.6% |
| 3 Bedrooms | $355K | $392.5K | +10.6% |
| 4 Bedrooms | $575K | $587.4K | +2.2% |
| 5+ Bedrooms | $910.5K | $825K | -9.4% |
Summary: 48108 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes decreased by 9.4%.
Housing Supply in 48108, MI
How many homes are available in 48108, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 69 | 52 | -24.6% |
Summary: The 48108 real estate market had 52 homes for sale in November 2024, a 24.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 20 | 20 | 0.0% |
| 3 Bedrooms | 25 | 20 | -20.0% |
| 4 Bedrooms | 16 | 11 | -31.3% |
| 5+ Bedrooms | 6 | 1 | -83.3% |
Summary: The 48108 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 31.3%, and 5+ bedroom homes decreased by 83.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 20 | -23.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48108, you may be able to get a good deal. 55% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 48108 in November 2024, down by 23.1% month-over-month. Of the 20 sold homes, 55% were sold under asking, 10% were sold at asking, and 35% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 41 Days | +37.9% |
Summary: Homes in 48108 had an average of 41 days on market in Nov 2024, up by 37.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48108 has remained consistent over time.
Summary: During November 2024, 20 homes were sold in 48108; 40% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
