$463 Closing Credit*
$39,000
896 SqFt
2 Beds
•1 Full Bath
Erick Monzo, Listing Office: Keller Williams Realty-Great Lakes
Is 48178, 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, 48178 has remained a Seller's Market.
Key Takeaway
48178 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48178, MI
How much do homes in 48178, MI cost?
Median Sold Price
$439,357
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,023(+0.5%)
Key Takeaway
The sold price of homes in 48178 has remained the same since last year.
Summary: The median home sold price in 48178 was $439,357 in October 2024, up 0.5% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $111K | $95K | -14.4% |
| 2 Bedrooms | $175K | $159.5K | -8.9% |
| 3 Bedrooms | $391.1K | $390K | -0.3% |
| 4 Bedrooms | $518.5K | $555K | +7.0% |
| 5+ Bedrooms | $610K | $735K | +20.5% |
Summary: 48178 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.4%, 2 bedroom homes decreased by 8.9%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 20.5%.
Housing Supply in 48178, MI
How many homes are available in 48178, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 147 | 154 | +4.8% |
Summary: The 48178 real estate market had 154 homes for sale in October 2024, a 4.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 25 | 24 | -4.0% |
| 3 Bedrooms | 37 | 40 | +8.1% |
| 4 Bedrooms | 76 | 79 | +3.9% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The 48178 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 39 | +14.7% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48178, you may be able to get a good deal. 59% of homes here sold below asking price last month.
Summary: A total of 39 homes were sold or pending in 48178 in October 2024, up by 14.7% month-over-month. Of the 39 sold homes, 59% were sold under asking, 15% were sold at asking, and 26% were sold over asking.
Days on Market for 48178, MI
How long does it take to sell a home in 48178, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 44 Days | 33 Days | -25.1% |
Summary: Homes in 48178 had an average of 33 days on market in Oct 2024, down by 25.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48178 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 39 homes were sold in 48178; 59% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
