$199,000
0.34 Acres
Land
Roy Hibbs, Listing Office: Remerica Hometown One
Is 48150, 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, 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
$275,375
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,375(+8.0%)
Key Takeaway
Homes in 48150 have sold for 8% more than they did a year ago.
Summary: The median home sold price in 48150 was $275,375 in November 2024, up 8% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116K | $134K | +15.5% |
| 2 Bedrooms | $172.5K | $165K | -4.3% |
| 3 Bedrooms | $254K | $275K | +8.3% |
| 4 Bedrooms | $327.4K | $345K | +5.4% |
| 5+ Bedrooms | $325K | $465K | +43.1% |
Summary: 48150 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.5%, 2 bedroom homes decreased by 4.3%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 43.1%.
Housing Supply in 48150, MI
How many homes are available in 48150, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 103 | 97 | -5.8% |
Summary: The 48150 real estate market had 97 homes for sale in November 2024, a 5.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 79 | 73 | -7.6% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48150 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 decreased by 10%, 3 bedroom homes decreased by 7.6%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 31 | -11.4% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48150, you may be able to get a good deal. 48.4% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in 48150 in November 2024, down by 11.4% month-over-month. Of the 31 sold homes, 48% were sold under asking, 16% were sold at asking, and 35% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 10 Days | 29 Days | +174.1% |
Summary: Homes in 48150 had an average of 29 days on market in Nov 2024, up by 174.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48150 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 31 homes were sold in 48150; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
