$3,561 Closing Credit*
$299,900
1,579 SqFt
3 Beds
•1 Full Bath, 1 Partial
Lisa A Sobell, Listing Office: Real Estate One-Southgate
Is 48138, 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, 48138 has remained a Seller's Market.
Key Takeaway
48138 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48138, MI
How much do homes in 48138, MI cost?
Median Sold Price
$370,000
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$22,000(+6.3%)
Key Takeaway
Homes in 48138 have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in 48138 was $370,000 in November 2024, up 6.3% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $138K | $93.5K | -32.2% |
| 2 Bedrooms | $185K | $176K | -4.9% |
| 3 Bedrooms | $335K | $335K | 0.0% |
| 4 Bedrooms | $438K | $490K | +11.9% |
| 5+ Bedrooms | $650K | $540K | -16.9% |
Summary: 48138 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.2%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes did not change, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes decreased by 16.9%.
Housing Supply in 48138, MI
How many homes are available in 48138, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 53 | 53 | 0.0% |
Summary: The 48138 real estate market had 53 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 26 | 25 | -3.8% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 48138 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 increased by 42.9%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48138, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 48138 in November 2024, down by 10.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% were sold over asking.
Days on Market for 48138, MI
How long does it take to sell a home in 48138, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 33 Days | +8.5% |
Summary: Homes in 48138 had an average of 33 days on market in Nov 2024, up by 8.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48138 has remained consistent over time.
Summary: During November 2024, 9 homes were sold in 48138; 44% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.