$2,791 Closing Credit*
$235,000
1,530 SqFt
2 Beds
•2 Full Baths
Michael Procissi, Listing Office: Power House Group Realty
Is 48164, 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, 48164 has remained a Seller's Market.
Key Takeaway
48164 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48164, MI
How much do homes in 48164, MI cost?
Median Sold Price
$350,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$31,500(+9.9%)
Key Takeaway
Homes in 48164 have sold for 9.9% more than they did a year ago.
Summary: The median home sold price in 48164 was $350,000 in October 2024, up 9.9% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97.5K | - | N/A |
| 2 Bedrooms | $215K | $232K | +7.9% |
| 3 Bedrooms | $288K | $342.5K | +18.9% |
| 4 Bedrooms | $375K | $425K | +13.3% |
| 5+ Bedrooms | $495K | $465K | -6.1% |
Summary: 48164 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 7.9%, 3 bedroom homes increased by 18.9%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 6.1%.
Housing Supply in 48164, MI
How many homes are available in 48164, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 35 | -2.8% |
Summary: The 48164 real estate market had 35 homes for sale in October 2024, a 2.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 20 | 16 | -20.0% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48164 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 13 | +62.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48164, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 48164 in October 2024, up by 62.5% month-over-month. Of the 13 sold homes, 38% were sold under asking, 38% were sold at asking, and 23% were sold over asking.
Days on Market for 48164, MI
How long does it take to sell a home in 48164, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 58 Days | 15 Days | -74.1% |
Summary: Homes in 48164 had an average of 15 days on market in Oct 2024, down by 74.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48164 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in 48164; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% 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.