$3,622 Closing Credit*
$305,000
2,436 SqFt
3 Beds
•2 Full Baths
Kevin J Sabuda, Listing Office: Metropolitan Real Estate
Is 48166, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48166 was a Seller's Market.
Key Takeaway
48166 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48166, MI
How much do homes in 48166, MI cost?
Median Sold Price
$297,450
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$45,950(+18.3%)
Key Takeaway
Homes in 48166 have sold for 18.3% more than they did a year ago.
Summary: The median home sold price in 48166 was $297,450 in November 2024, up 18.3% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $84.5K | $150K | +77.5% |
| 3 Bedrooms | $255.5K | $240K | -6.1% |
| 4 Bedrooms | $302.5K | $349.8K | +15.7% |
| 5+ Bedrooms | $225K | $477.4K | +112.2% |
Summary: 48166 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 77.5%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 112.2%.
Housing Supply in 48166, MI
How many homes are available in 48166, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 57 | 63 | +10.5% |
Summary: The 48166 real estate market had 63 homes for sale in November 2024, a 10.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 29 | 34 | +17.2% |
| 4 Bedrooms | 25 | 26 | +4.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48166 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48166, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 48166 in November 2024, down by 33.3% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for 48166, MI
How long does it take to sell a home in 48166, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 38 Days | -4.0% |
Summary: Homes in 48166 had an average of 38 days on market in Nov 2024, down by 4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48166 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in 48166; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
