$3,561 Closing Credit*
$299,900
1,404 SqFt
3 Beds
•1 Full Bath, 1 Partial
Suzanne L Cavanaugh Stabile, Listing Office: Home Realty Partners
Is 48150, 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, 48150 has remained a Seller's Market.
Key Takeaway
48150 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48150, MI
How much do homes in 48150, MI cost?
Median Sold Price
$275,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,000(+10.0%)
Key Takeaway
Homes in 48150 have sold for 10% more than they did a year ago.
Summary: The median home sold price in 48150 was $275,000 in October 2024, up 10% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116K | $134K | +15.5% |
| 2 Bedrooms | $173.7K | $165K | -5.0% |
| 3 Bedrooms | $250K | $275K | +10.0% |
| 4 Bedrooms | $323.5K | $343.7K | +6.3% |
| 5+ Bedrooms | $325K | $277.5K | -14.6% |
Summary: 48150 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.5%, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 14.6%.
Housing Supply in 48150, MI
How many homes are available in 48150, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 92 | 104 | +13.0% |
Summary: The 48150 real estate market had 104 homes for sale in October 2024, a 13.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 70 | 79 | +12.9% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48150 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 31 | +10.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48150, you may be able to get a good deal. 41.9% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in 48150 in October 2024, up by 10.7% month-over-month. Of the 31 sold homes, 42% were sold under asking, 16% were sold at asking, and 42% were sold over asking.
Days on Market for 48150, MI
How long does it take to sell a home in 48150, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 21 Days | +31.0% |
Summary: Homes in 48150 had an average of 21 days on market in Oct 2024, up by 31% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48150 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 31 homes were sold in 48150; 74% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 3% 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.