$3,324 Closing Credit*
$279,900
1,350 SqFt
2 Beds
•2 Full Baths, 1 Partial
Melanie Wiens, Listing Office: Wiens And Roth Real Estate - Lambertville
Is 48131, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 48131 was a Neutral Market.
Key Takeaway
48131 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48131, MI
How much do homes in 48131, MI cost?
Median Sold Price
$275,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$16,000(-5.5%)
Key Takeaway
Homes in 48131 have sold for 5.5% less than they did a year ago.
Summary: The median home sold price in 48131 was $275,000 in October 2024, down 5.5% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | - | N/A |
| 2 Bedrooms | $147K | $175.9K | +19.7% |
| 3 Bedrooms | $282.5K | $295K | +4.4% |
| 4 Bedrooms | $355K | $377.9K | +6.5% |
| 5+ Bedrooms | $360.7K | $316K | -12.4% |
Summary: 48131 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 19.7%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 12.4%.
Median Sold Price Compared To Nearby Zip Codes
| 49270 | $216K | $296.5K | +37.2% |
| 48131 | $291K | $275K | -5.5% |
| 49238 | $182K | $165K | -9.3% |
Housing Supply in 48131, MI
How many homes are available in 48131, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 34 | +21.4% |
Summary: The 48131 real estate market had 34 homes for sale in October 2024, a 21.4% 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 19 | 26 | +36.8% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48131 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 36.8%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48131, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in 48131 in October 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 57% were sold at asking, and 14% were sold over asking.
Days on Market for 48131, MI
How long does it take to sell a home in 48131, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 62 Days | 35 Days | -43.5% |
Summary: Homes in 48131 had an average of 35 days on market in Oct 2024, down by 43.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48131 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in 48131; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
