$2,613 Closing Credit*
$220,000
1,296 SqFt
3 Beds
•2 Full Baths
Robert Neely, Listing Office: Keller Williams Legacy
Is 48125, 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, 48125 has remained a Seller's Market.
Key Takeaway
48125 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48125, MI
How much do homes in 48125, MI cost?
Median Sold Price
$160,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,500(+14.6%)
Key Takeaway
Homes in 48125 have sold for 14.6% more than they did a year ago.
Summary: The median home sold price in 48125 was $160,500 in October 2024, up 14.6% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $114.5K | $126K | +10.0% |
| 3 Bedrooms | $147K | $165K | +12.2% |
| 4 Bedrooms | $155K | $175K | +12.9% |
| 5+ Bedrooms | $190K | $212.4K | +11.8% |
Summary: 48125 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 increased by 10%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 11.8%.
Housing Supply in 48125, MI
How many homes are available in 48125, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 80 | 94 | +17.5% |
Summary: The 48125 real estate market had 94 homes for sale in October 2024, a 17.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 18 | 15 | -16.7% |
| 3 Bedrooms | 52 | 67 | +28.8% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48125 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 decreased by 16.7%, 3 bedroom homes increased by 28.8%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 27 | +3.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48125, you could pay more than the asking price. 59.3% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in 48125 in October 2024, up by 3.8% month-over-month. Of the 27 sold homes, 26% were sold under asking, 15% were sold at asking, and 59% were sold over asking.
Days on Market for 48125, MI
How long does it take to sell a home in 48125, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 18 Days | +11.6% |
Summary: Homes in 48125 had an average of 18 days on market in Oct 2024, up by 11.6% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48125 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 27 homes were sold in 48125; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% 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.