$3,088 Closing Credit*
$260,000
Deuntay Fields, Listing Office: Beal Properties LLC
Is 48134, 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, 48134 has remained a Seller's Market.
Key Takeaway
48134 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48134, MI
How much do homes in 48134, MI cost?
Median Sold Price
$298,450
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$25,750(-7.9%)
Key Takeaway
Homes in 48134 have sold for 7.9% less than they did a year ago.
Summary: The median home sold price in 48134 was $298,450 in October 2024, down 7.9% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $239.2K | $247.5K | +3.4% |
| 3 Bedrooms | $267K | $272K | +1.9% |
| 4 Bedrooms | $381.5K | $390K | +2.2% |
| 5+ Bedrooms | $341.5K | $330K | -3.4% |
Summary: 48134 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 3.4%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes decreased by 3.4%.
Housing Supply in 48134, MI
How many homes are available in 48134, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 59 | 65 | +10.2% |
Summary: The 48134 real estate market had 65 homes for sale in October 2024, a 10.2% 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 | 9 | 11 | +22.2% |
| 3 Bedrooms | 29 | 32 | +10.3% |
| 4 Bedrooms | 19 | 19 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48134 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 increased by 22.2%, 3 bedroom homes increased by 10.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48134, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 48134 in October 2024, up by 6.3% month-over-month. Of the 17 sold homes, 47% were sold under asking, 29% were sold at asking, and 24% were sold over asking.
Days on Market for 48134, MI
How long does it take to sell a home in 48134, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 24 Days | +104.6% |
Summary: Homes in 48134 had an average of 24 days on market in Oct 2024, up by 104.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48134 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in 48134; 59% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
