$325,000
0.82 Acres
Land
Cynthia Hinckley, Listing Office: Remerica Integrity II
Is 48167, 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, 48167 has remained a Seller's Market.
Key Takeaway
48167 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48167, MI
How much do homes in 48167, MI cost?
Median Sold Price
$460,500
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,000(+3.1%)
Key Takeaway
Homes in 48167 have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in 48167 was $460,500 in October 2024, up 3.1% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $160.7K | -13.1% |
| 2 Bedrooms | $235K | $233.6K | -0.6% |
| 3 Bedrooms | $355K | $402.5K | +13.4% |
| 4 Bedrooms | $600K | $600K | 0.0% |
| 5+ Bedrooms | $735K | $1.0M | +40.2% |
Summary: 48167 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.1%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 13.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 40.2%.
Housing Supply in 48167, MI
How many homes are available in 48167, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 93 | 103 | +10.8% |
Summary: The 48167 real estate market had 103 homes for sale in October 2024, a 10.8% increase 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 | 20 | 19 | -5.0% |
| 3 Bedrooms | 31 | 32 | +3.2% |
| 4 Bedrooms | 30 | 41 | +36.7% |
| 5+ Bedrooms | 12 | 11 | -8.3% |
Summary: The 48167 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 decreased by 5%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 36.7%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 29 | +26.1% |
Asking Price vs. Sold Price
16 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 48167, you may be able to get a good deal. 55.2% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in 48167 in October 2024, up by 26.1% month-over-month. Of the 29 sold homes, 55% were sold under asking, 17% were sold at asking, and 28% were sold over asking.
Days on Market for 48167, MI
How long does it take to sell a home in 48167, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 28 Days | +59.7% |
Summary: Homes in 48167 had an average of 28 days on market in Oct 2024, up by 59.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48167 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in 48167; 69% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
