$1,425 Closing Credit*
$120,000
1,092 SqFt
3 Beds
•1 Full Bath
Marshall Montgomery, Listing Office: Michigan Property Resource
Is 48141, 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, 48141 has remained a Seller's Market.
Key Takeaway
48141 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48141, MI
How much do homes in 48141, MI cost?
Median Sold Price
$110,000
$99/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,000(+22.2%)
Key Takeaway
Homes in 48141 have sold for 22.2% more than they did a year ago.
Summary: The median home sold price in 48141 was $110,000 in October 2024, up 22.2% from last year, and the median price per square foot was $99.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $60K | $75K | +25.0% |
| 3 Bedrooms | $100K | $115K | +15.0% |
| 4 Bedrooms | $111.9K | $128.5K | +14.8% |
| 5+ Bedrooms | $130K | $180.5K | +38.8% |
Summary: 48141 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 25%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 38.8%.
Housing Supply in 48141, MI
How many homes are available in 48141, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 66 | 74 | +12.1% |
Summary: The 48141 real estate market had 74 homes for sale in October 2024, a 12.1% 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 | 7 | +40.0% |
| 3 Bedrooms | 55 | 61 | +10.9% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48141 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 40%, 3 bedroom homes increased by 10.9%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48141, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 48141 in October 2024, down by 7.1% month-over-month. Of the 13 sold homes, 46% were sold under asking, 8% were sold at asking, and 46% were sold over asking.
Days on Market for 48141, MI
How long does it take to sell a home in 48141, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 15 Days | -34.7% |
Summary: Homes in 48141 had an average of 15 days on market in Oct 2024, down by 34.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48141 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in 48141; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% 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.