$2,708 Closing Credit*
$228,000
1,167 SqFt
2 Beds
•1 Full Bath
Lee J Wilbanks, Listing Office: Wilbanks Real Estate
Is 48154, 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, 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
$328,100
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,766(+7.8%)
Key Takeaway
Homes in 48154 have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in 48154 was $328,100 in October 2024, up 7.8% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $91K | $110K | +20.9% |
| 2 Bedrooms | $224K | $229.9K | +2.6% |
| 3 Bedrooms | $290K | $320K | +10.3% |
| 4 Bedrooms | $370K | $375.6K | +1.5% |
| 5+ Bedrooms | $416.5K | $392.5K | -5.8% |
Summary: 48154 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.9%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 5.8%.
Housing Supply in 48154, MI
How many homes are available in 48154, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 124 | 117 | -5.6% |
Summary: The 48154 real estate market had 117 homes for sale in October 2024, a 5.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 82 | 73 | -11.0% |
| 4 Bedrooms | 31 | 33 | +6.5% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 48154 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 11%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 41 | 50 | +22.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48154, you may be able to get a good deal. 46% of homes here sold below asking price last month.
Summary: A total of 50 homes were sold or pending in 48154 in October 2024, up by 22.0% month-over-month. Of the 50 sold homes, 46% were sold under asking, 16% were sold at asking, and 38% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 18 Days | +85.7% |
Summary: Homes in 48154 had an average of 18 days on market in Oct 2024, up by 85.7% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48154 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 50 homes were sold in 48154; 80% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 2% 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.