$2,136 Closing Credit*
$179,900
1,008 SqFt
2 Beds
•1 Full Bath, 1 Partial
Corey Welch, Listing Office: eXp Realty LLC in Monroe
Is 48157, 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, 48157 has remained a Seller's Market.
Key Takeaway
48157 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48157, MI
How much do homes in 48157, MI cost?
Median Sold Price
$169,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$8,500(+5.3%)
Key Takeaway
Homes in 48157 have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in 48157 was $169,000 in October 2024, up 5.3% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $156.2K | $163.5K | +4.6% |
| 3 Bedrooms | $207.2K | $220K | +6.2% |
| 4 Bedrooms | $185K | $168K | -9.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: 48157 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 4.6%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 9.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48145 | $215K | $273K | +27.0% |
| 48133 | $190.5K | $202.5K | +6.3% |
| 48157 | $160.5K | $169K | +5.3% |
Housing Supply in 48157, MI
How many homes are available in 48157, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Summary: The 48157 real estate market had 11 homes for sale in October 2024, a 8.3% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48157 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 remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48157, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48157 in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for 48157, MI
How long does it take to sell a home in 48157, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 117 Days | 57 Days | -51.2% |
Summary: Homes in 48157 had an average of 57 days on market in Oct 2024, down by 51.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48157 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 48157; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
