$6,650 Closing Credit*
$560,000
2,268 SqFt
4 Beds
•2 Full Baths, 1 Partial
Deborah L Johnson, Listing Office: Remerica United Realty
Is 48114, 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, 48114 has remained a Seller's Market.
Key Takeaway
48114 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48114, MI
How much do homes in 48114, MI cost?
Median Sold Price
$475,000
$177/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since November 2023.
Key Takeaway
The sold price of homes in 48114 has remained the same since last year.
Summary: The median home sold price in 48114 was $475,000 in November 2024, the same as last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $145K | N/A |
| 2 Bedrooms | $369K | $389.5K | +5.6% |
| 3 Bedrooms | $402.5K | $387.5K | -3.7% |
| 4 Bedrooms | $525K | $549.5K | +4.7% |
| 5+ Bedrooms | $607.5K | $634.5K | +4.4% |
Summary: 48114 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.6%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 4.4%.
Housing Supply in 48114, MI
How many homes are available in 48114, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 114 | 108 | -5.3% |
Summary: The 48114 real estate market had 108 homes for sale in November 2024, a 5.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 31 | 32 | +3.2% |
| 3 Bedrooms | 45 | 37 | -17.8% |
| 4 Bedrooms | 31 | 31 | 0.0% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The 48114 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.2%, 3 bedroom homes decreased by 17.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48114, expect to pay close to the asking price. 36.4% of homes here sold near the asking price last month.
Summary: A total of 22 homes were sold or pending in 48114 in November 2024, down by 4.3% month-over-month. Of the 22 sold homes, 32% were sold under asking, 36% were sold at asking, and 32% were sold over asking.
Days on Market for 48114, MI
How long does it take to sell a home in 48114, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 48 Days | +178.7% |
Summary: Homes in 48114 had an average of 48 days on market in Nov 2024, up by 178.7% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48114 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 22 homes were sold in 48114; 73% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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.