$10,000 Closing Credit*
$1,499,300
7,515 SqFt
4 Beds
•4 Full Baths, 1 Partial
Dave W Abdallah, Listing Office: Century 21 Curran & Oberski
Is 48120, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48120 was a Seller's Market.
Key Takeaway
48120 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48120, MI
How much do homes in 48120, MI cost?
Median Sold Price
$299,500
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$59,500(+24.8%)
Key Takeaway
Homes in 48120 have sold for 24.8% more than they did a year ago.
Summary: The median home sold price in 48120 was $299,500 in November 2024, up 24.8% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $183.2K | $170K | -7.2% |
| 3 Bedrooms | $261K | $300K | +14.9% |
| 4 Bedrooms | $332.5K | $571.5K | +71.9% |
| 5+ Bedrooms | $92K | $793.7K | +762.8% |
Summary: 48120 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 decreased by 7.2%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 71.9%, and 5+ bedroom homes increased by 762.8%.
Housing Supply in 48120, MI
How many homes are available in 48120, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Summary: The 48120 real estate market had 7 homes for sale in November 2024, a 16.7% increase 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48120 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48120, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in 48120 in November 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for 48120, MI
How long does it take to sell a home in 48120, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 90 Days | +246.2% |
Summary: Homes in 48120 had an average of 90 days on market in Nov 2024, up by 246.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 48120 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 1 homes were sold in 48120; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
