$7,422 Closing Credit*
$625,000
3,208 SqFt
5 Beds
•3 Full Baths, 1 Partial
Gary Reggish, Listing Office: Remerica United Realty
Is 48170, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 48170 has remained a Seller's Market.
Key Takeaway
48170 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48170, MI
How much do homes in 48170, MI cost?
Median Sold Price
$449,633
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,800(+2.5%)
Key Takeaway
Homes in 48170 have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in 48170 was $449,633 in November 2024, up 2.5% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $158K | $129.9K | -17.8% |
| 2 Bedrooms | $256.4K | $287.5K | +12.1% |
| 3 Bedrooms | $444.4K | $410K | -7.8% |
| 4 Bedrooms | $541K | $607.3K | +12.3% |
| 5+ Bedrooms | $705K | $617K | -12.5% |
Summary: 48170 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.8%, 2 bedroom homes increased by 12.1%, 3 bedroom homes decreased by 7.8%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes decreased by 12.5%.
Housing Supply in 48170, MI
How many homes are available in 48170, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 146 | 125 | -14.4% |
Summary: The 48170 real estate market had 125 homes for sale in November 2024, a 14.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 29 | 28 | -3.4% |
| 3 Bedrooms | 49 | 44 | -10.2% |
| 4 Bedrooms | 59 | 43 | -27.1% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The 48170 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 10.2%, 4 bedroom homes decreased by 27.1%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 54 | 30 | -44.4% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48170, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in 48170 in November 2024, down by 44.4% month-over-month. Of the 30 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.
Days on Market for 48170, MI
How long does it take to sell a home in 48170, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 18 Days | 21 Days | +15.6% |
Summary: Homes in 48170 had an average of 21 days on market in Nov 2024, up by 15.6% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48170 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 30 homes were sold in 48170; 70% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.