$1,899 Closing Credit*
$159,900
748 SqFt
2 Beds
•1 Full Bath
Zachary Alawan, Listing Office: Premiere Realty Group LLC
Is 48183, 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, 48183 has remained a Seller's Market.
Key Takeaway
48183 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48183, MI
How much do homes in 48183, MI cost?
Median Sold Price
$239,988
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$4,488(+1.9%)
Key Takeaway
Homes in 48183 have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in 48183 was $239,988 in November 2024, up 1.9% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $84.9K | $116K | +36.6% |
| 2 Bedrooms | $157.5K | $157.7K | 0.2% |
| 3 Bedrooms | $241K | $249K | +3.3% |
| 4 Bedrooms | $299.5K | $317.5K | +6.0% |
| 5+ Bedrooms | $330.9K | $392K | +18.4% |
Summary: 48183 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.6%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 18.4%.
Housing Supply in 48183, MI
How many homes are available in 48183, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 145 | 111 | -23.4% |
Summary: The 48183 real estate market had 111 homes for sale in November 2024, a 23.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 39 | 32 | -17.9% |
| 3 Bedrooms | 67 | 50 | -25.4% |
| 4 Bedrooms | 33 | 26 | -21.2% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 48183 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 17.9%, 3 bedroom homes decreased by 25.4%, 4 bedroom homes decreased by 21.2%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 45 | 35 | -22.2% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48183, you may be able to get a good deal. 48.6% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in 48183 in November 2024, down by 22.2% month-over-month. Of the 35 sold homes, 49% were sold under asking, 14% were sold at asking, and 37% were sold over asking.
Days on Market for 48183, MI
How long does it take to sell a home in 48183, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 24 Days | +60.6% |
Summary: Homes in 48183 had an average of 24 days on market in Nov 2024, up by 60.6% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48183 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 35 homes were sold in 48183; 69% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.