$1,305 Closing Credit*
$109,900
864 SqFt
3 Beds
•1 Full Bath
Justin Sadauskas, Listing Office: Amerapro
Is 48122, 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, 48122 has remained a Seller's Market.
Key Takeaway
48122 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48122, MI
How much do homes in 48122, MI cost?
Median Sold Price
$140,500
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$1,500(+1.1%)
Key Takeaway
Homes in 48122 have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in 48122 was $140,500 in November 2024, up 1.1% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $86K | N/A |
| 2 Bedrooms | $108K | $115.5K | +6.9% |
| 3 Bedrooms | $142.5K | $159K | +11.6% |
| 4 Bedrooms | $175K | $170.5K | -2.6% |
| 5+ Bedrooms | - | $185K | N/A |
Summary: 48122 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 6.9%, 3 bedroom homes increased by 11.6%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes did not change.
Housing Supply in 48122, MI
How many homes are available in 48122, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Summary: The 48122 real estate market had 26 homes for sale in November 2024, a 18.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 12 | 14 | +16.7% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48122 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 increased by 12.5%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48122, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 48122 in November 2024, up by 28.6% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for 48122, MI
How long does it take to sell a home in 48122, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 6 Days | 20 Days | +238.9% |
Summary: Homes in 48122 had an average of 20 days on market in Nov 2024, up by 238.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48122 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in 48122; 89% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
