$3,384 Closing Credit*
$285,000
1,967 SqFt
3 Beds
•2 Full Baths
Trisha Dork, Ashley Butler, Listing Office: Elite Realty
Is 48127, 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, 48127 has remained a Seller's Market.
Key Takeaway
48127 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48127, MI
How much do homes in 48127, MI cost?
Median Sold Price
$262,500
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,500(+14.1%)
Key Takeaway
Homes in 48127 have sold for 14.1% more than they did a year ago.
Summary: The median home sold price in 48127 was $262,500 in October 2024, up 14.1% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $56K | $64K | +14.3% |
| 2 Bedrooms | $144.5K | $165K | +14.2% |
| 3 Bedrooms | $228K | $260K | +14.0% |
| 4 Bedrooms | $410K | $415K | +1.2% |
| 5+ Bedrooms | $530.5K | $459K | -13.5% |
Summary: 48127 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 13.5%.
Housing Supply in 48127, MI
How many homes are available in 48127, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 90 | 93 | +3.3% |
Summary: The 48127 real estate market had 93 homes for sale in October 2024, a 3.3% 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 | 11 | 11 | 0.0% |
| 3 Bedrooms | 64 | 65 | +1.6% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 48127 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 remained the same, 3 bedroom homes increased by 1.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 30 | -14.3% |
Asking Price vs. Sold Price
10 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 48127, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in 48127 in October 2024, down by 14.3% month-over-month. Of the 30 sold homes, 33% were sold under asking, 13% were sold at asking, and 53% were sold over asking.
Days on Market for 48127, MI
How long does it take to sell a home in 48127, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 24 Days | +45.4% |
Summary: Homes in 48127 had an average of 24 days on market in Oct 2024, up by 45.4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48127 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 30 homes were sold in 48127; 83% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
