$238 Closing Credit*
$20,000
1,000 SqFt
2 Beds
•2 Full Baths
Blake Heenan, Listing Office: Berkshire Hathaway HomeServices Kee Realty Bham
Is 48114, 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, 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
$460,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$15,500(-3.3%)
Key Takeaway
Homes in 48114 have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in 48114 was $460,000 in October 2024, down 3.3% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $145K | N/A |
| 2 Bedrooms | $369K | $343.4K | -6.9% |
| 3 Bedrooms | $405K | $377.5K | -6.8% |
| 4 Bedrooms | $535K | $537.5K | 0.5% |
| 5+ Bedrooms | $640K | $650K | +1.6% |
Summary: 48114 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 decreased by 6.9%, 3 bedroom homes decreased by 6.8%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 1.6%.
Housing Supply in 48114, MI
How many homes are available in 48114, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 85 | 118 | +38.8% |
Summary: The 48114 real estate market had 118 homes for sale in October 2024, a 38.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 31 | +121.4% |
| 3 Bedrooms | 39 | 46 | +17.9% |
| 4 Bedrooms | 27 | 35 | +29.6% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 48114 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 121.4%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 29.6%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 21 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48114, you may be able to get a good deal. 47.6% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in 48114 in October 2024, the same as the previous month. Of the 21 sold homes, 48% were sold under asking, 19% were sold at asking, and 33% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 29 Days | +16.6% |
Summary: Homes in 48114 had an average of 29 days on market in Oct 2024, up by 16.6% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 21 homes were sold in 48114; 67% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 10% 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.