$2,374 Closing Credit*
$199,900
1,008 SqFt
3 Beds
•1 Full Bath
Jenny Church, Listing Office: ARE Homes, LLC
Is 48182, 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, 48182 has remained a Seller's Market.
Key Takeaway
48182 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48182, MI
How much do homes in 48182, MI cost?
Median Sold Price
$260,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+4.0%)
Key Takeaway
Homes in 48182 have sold for 4% more than they did a year ago.
Summary: The median home sold price in 48182 was $260,000 in October 2024, up 4% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | - | N/A |
| 2 Bedrooms | $139K | $175K | +25.9% |
| 3 Bedrooms | $228.9K | $254K | +10.9% |
| 4 Bedrooms | $310K | $321.5K | +3.7% |
| 5+ Bedrooms | $345K | $380K | +10.1% |
Summary: 48182 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.9%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Zip Codes
| 43613 | $134.9K | $149.9K | +11.1% |
| 48133 | $190.5K | $202.5K | +6.3% |
| 48144 | $253K | $267.4K | +5.7% |
| 48182 | $250K | $260K | +4.0% |
Housing Supply in 48182, MI
How many homes are available in 48182, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 73 | 76 | +4.1% |
Summary: The 48182 real estate market had 76 homes for sale in October 2024, a 4.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 9 | 14 | +55.6% |
| 3 Bedrooms | 34 | 29 | -14.7% |
| 4 Bedrooms | 28 | 30 | +7.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48182 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 increased by 55.6%, 3 bedroom homes decreased by 14.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 20 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48182, you may be able to get a good deal. 45% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 48182 in October 2024, the same as the previous month. Of the 20 sold homes, 45% were sold under asking, 10% were sold at asking, and 45% were sold over asking.
Days on Market for 48182, MI
How long does it take to sell a home in 48182, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 50 Days | +83.6% |
Summary: Homes in 48182 had an average of 50 days on market in Oct 2024, up by 83.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48182 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 48182; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% 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.