$4,274 Closing Credit*
$359,900
1,850 SqFt
3 Beds
•2 Full Baths, 1 Partial
Frank A Mastroianni, Listing Office: Real Estate One-Northville
Is 48154, 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, 48154 has remained a Seller's Market.
Key Takeaway
48154 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48154, MI
How much do homes in 48154, MI cost?
Median Sold Price
$329,833
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$19,500(+6.3%)
Key Takeaway
Homes in 48154 have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in 48154 was $329,833 in November 2024, up 6.3% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $115K | +27.8% |
| 2 Bedrooms | $219K | $230K | +5.0% |
| 3 Bedrooms | $294.2K | $320K | +8.8% |
| 4 Bedrooms | $375K | $380.5K | +1.5% |
| 5+ Bedrooms | $400K | $405K | +1.3% |
Summary: 48154 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.8%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 1.3%.
Housing Supply in 48154, MI
How many homes are available in 48154, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 123 | 80 | -35.0% |
Summary: The 48154 real estate market had 80 homes for sale in November 2024, a 35.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 8 | 5 | -37.5% |
| 3 Bedrooms | 78 | 47 | -39.7% |
| 4 Bedrooms | 32 | 25 | -21.9% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 48154 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes decreased by 39.7%, 4 bedroom homes decreased by 21.9%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 58 | 31 | -46.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48154, you could pay more than the asking price. 51.6% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in 48154 in November 2024, down by 46.6% month-over-month. Of the 31 sold homes, 42% were sold under asking, 6% were sold at asking, and 52% were sold over asking.
Days on Market for 48154, MI
How long does it take to sell a home in 48154, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 11 Days | 24 Days | +103.2% |
Summary: Homes in 48154 had an average of 24 days on market in Nov 2024, up by 103.2% 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 48154 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 31 homes were sold in 48154; 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.