$3,444 Closing Credit*
$290,000
1,707 SqFt
3 Beds
•2 Full Baths, 1 Partial
Ibrahim Sharif, Listing Office: Waison Realty LLC
Is 48126, 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, 48126 has remained a Seller's Market.
Key Takeaway
48126 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48126, MI
How much do homes in 48126, MI cost?
Median Sold Price
$245,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,000(+6.5%)
Key Takeaway
Homes in 48126 have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in 48126 was $245,000 in October 2024, up 6.5% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $160K | $172.5K | +7.8% |
| 3 Bedrooms | $215K | $233.2K | +8.5% |
| 4 Bedrooms | $295.5K | $279K | -5.6% |
| 5+ Bedrooms | $383.5K | $281K | -26.7% |
Summary: 48126 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 7.8%, 3 bedroom homes increased by 8.5%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes decreased by 26.7%.
Housing Supply in 48126, MI
How many homes are available in 48126, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 65 | 73 | +12.3% |
Summary: The 48126 real estate market had 73 homes for sale in October 2024, a 12.3% 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 | 10 | 8 | -20.0% |
| 3 Bedrooms | 31 | 36 | +16.1% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The 48126 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 20%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 16 | -11.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48126, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 48126 in October 2024, down by 11.1% month-over-month. Of the 16 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for 48126, MI
How long does it take to sell a home in 48126, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 36 Days | +62.6% |
Summary: Homes in 48126 had an average of 36 days on market in Oct 2024, up by 62.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48126 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in 48126; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
