Is 48125, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48125 is a 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

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $114.5K$126K
+10.0%
3 $147K$165K
+12.2%
4 $155K$175K
+12.9%
5+ $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%.

Median Sold Price Compared To Nearby Zip Codes

48141
+22.2%
48125
+14.6%
48124
+11.2%
48128
+10.3%
48101
+9.4%

Housing Supply in 48125, MI

How many homes are available in 48125, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8094+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

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1815
-16.7%
3 5267
+28.8%
4 89
+12.5%
5+ 12
+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 2024Oct 2024CHANGE
2627+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

Asking vs Sold - buyer

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 2023Oct 2024CHANGE
16 Days18 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 48125, MI

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