$4,928 Closing Credit*
$415,000
1,785 SqFt
4 Beds
•1 Full Bath, 1 Partial
S Brooke MacNee, Listing Office: MBA Realty
Is 48138, 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, 48138 was a Neutral 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
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,750(+4.7%)
Key Takeaway
Homes in 48138 have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in 48138 was $370,000 in October 2024, up 4.7% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $138K | $93.5K | -32.2% |
| 2 Bedrooms | $187.5K | $176K | -6.1% |
| 3 Bedrooms | $345K | $333K | -3.5% |
| 4 Bedrooms | $457.5K | $465.7K | +1.8% |
| 5+ Bedrooms | $467.5K | $580K | +24.1% |
Summary: 48138 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.2%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 24.1%.
Housing Supply in 48138, MI
How many homes are available in 48138, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 52 | 48 | -7.7% |
Summary: The 48138 real estate market had 48 homes for sale in October 2024, a 7.7% decrease 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 | 7 | 5 | -28.6% |
| 3 Bedrooms | 19 | 17 | -10.5% |
| 4 Bedrooms | 23 | 24 | +4.3% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 48138 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 28.6%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 10 | -37.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48138, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 48138 in October 2024, down by 37.5% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 48 Days | +211.5% |
Summary: Homes in 48138 had an average of 48 days on market in Oct 2024, up by 211.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48138 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in 48138; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.