$8,609 Closing Credit*
$725,000
2,885 SqFt
3 Beds
•3 Full Baths
Jamey Kramer, Listing Office: RE/MAX Classic
Is 48168, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 48168 has remained a Seller's Market.
Key Takeaway
48168 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48168, MI
How much do homes in 48168, MI cost?
Median Sold Price
$649,833
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$96,833(+17.5%)
Key Takeaway
Homes in 48168 have sold for 17.5% more than they did a year ago.
Summary: The median home sold price in 48168 was $649,833 in December 2024, up 17.5% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | $237.5K | +85.5% |
| 2 Bedrooms | $355K | $407.5K | +14.8% |
| 3 Bedrooms | $523K | $547K | +4.6% |
| 4 Bedrooms | $709K | $766K | +8.0% |
| 5+ Bedrooms | $925K | $1.0M | +18.6% |
Summary: 48168 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 85.5%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 18.6%.
Housing Supply in 48168, MI
How many homes are available in 48168, MI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 55 | 45 | -18.2% |
Summary: The 48168 real estate market had 45 homes for sale in December 2024, a 18.2% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 13 | 11 | -15.4% |
| 4 Bedrooms | 23 | 18 | -21.7% |
| 5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The 48168 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 21.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 13 | 18 | +38.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48168, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 48168 in December 2024, up by 38.5% month-over-month. Of the 18 sold homes, 56% were sold under asking, 0% were sold at asking, and 44% were sold over asking.
Days on Market for 48168, MI
How long does it take to sell a home in 48168, MI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 40 Days | 30 Days | -23.5% |
Summary: Homes in 48168 had an average of 30 days on market in Dec 2024, down by 23.5% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48168 are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 18 homes were sold in 48168; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
