$2,611 Closing Credit*
$219,900
1,444 SqFt
3 Beds
•1 Full Bath, 1 Partial
Nini Riggs, Listing Office: Coldwell Banker Haynes R.E. in Monroe
Is 48162, 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, 48162 has remained a Seller's Market.
Key Takeaway
48162 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48162, MI
How much do homes in 48162, MI cost?
Median Sold Price
$223,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,000(+8.3%)
Key Takeaway
Homes in 48162 have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in 48162 was $223,000 in October 2024, up 8.3% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63.2K | $64.9K | +2.7% |
| 2 Bedrooms | $153K | $162.7K | +6.3% |
| 3 Bedrooms | $202.5K | $217K | +7.2% |
| 4 Bedrooms | $300K | $289.9K | -3.3% |
| 5+ Bedrooms | $252.5K | $319.9K | +26.7% |
Summary: 48162 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.7%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 26.7%.
Housing Supply in 48162, MI
How many homes are available in 48162, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 125 | 122 | -2.4% |
Summary: The 48162 real estate market had 122 homes for sale in October 2024, a 2.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 23 | 20 | -13.0% |
| 3 Bedrooms | 68 | 66 | -2.9% |
| 4 Bedrooms | 30 | 32 | +6.7% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48162 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 13%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 24 | -35.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48162, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 48162 in October 2024, down by 35.1% month-over-month. Of the 24 sold homes, 46% were sold under asking, 21% were sold at asking, and 33% were sold over asking.
Days on Market for 48162, MI
How long does it take to sell a home in 48162, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 27 Days | -37.2% |
Summary: Homes in 48162 had an average of 27 days on market in Oct 2024, down by 37.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48162 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in 48162; 58% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
