$6,531 Closing Credit*
$550,000
2,000 SqFt
4 Beds
•2 Full Baths, 1 Partial
Batoul Abdallah, Ali M Abdallah, Listing Office: RE/MAX Leading Edge
Is 48126, 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, 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
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,000(+2.1%)
Key Takeaway
Homes in 48126 have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in 48126 was $245,000 in November 2024, up 2.1% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $160K | $175.7K | +9.8% |
| 3 Bedrooms | $222.5K | $233.2K | +4.8% |
| 4 Bedrooms | $293K | $279K | -4.8% |
| 5+ Bedrooms | $338.7K | $265K | -21.8% |
Summary: 48126 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 9.8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 21.8%.
Housing Supply in 48126, MI
How many homes are available in 48126, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 66 | 71 | +7.6% |
Summary: The 48126 real estate market had 71 homes for sale in November 2024, a 7.6% 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 | 7 | 7 | 0.0% |
| 3 Bedrooms | 36 | 34 | -5.6% |
| 4 Bedrooms | 16 | 21 | +31.3% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The 48126 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 5.6%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48126, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 48126 in November 2024, down by 12.5% month-over-month. Of the 14 sold homes, 29% were sold under asking, 7% were sold at asking, and 64% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 39 Days | +123.7% |
Summary: Homes in 48126 had an average of 39 days on market in Nov 2024, up by 123.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48126 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 14 homes were sold in 48126; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
