$3,918 Closing Credit*
$329,900
1,850 SqFt
4 Beds
•3 Full Baths
#50160305, Deborah Matic, Listing Office: RE/MAX Eclipse New Baltimore
Is 48183, 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, 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
$244,166
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,479(+4.5%)
Key Takeaway
Homes in 48183 have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in 48183 was $244,166 in October 2024, up 4.5% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $84.9K | $116K | +36.6% |
| 2 Bedrooms | $155.5K | $159.4K | +2.5% |
| 3 Bedrooms | $240K | $250K | +4.2% |
| 4 Bedrooms | $299K | $319K | +6.7% |
| 5+ Bedrooms | $335K | $392K | +17.0% |
Summary: 48183 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.6%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 17%.
Housing Supply in 48183, MI
How many homes are available in 48183, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 144 | 137 | -4.9% |
Summary: The 48183 real estate market had 137 homes for sale in October 2024, a 4.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 38 | 35 | -7.9% |
| 3 Bedrooms | 67 | 66 | -1.5% |
| 4 Bedrooms | 35 | 30 | -14.3% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 48183 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.9%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 48 | 36 | -25.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
4 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. 52.8% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in 48183 in October 2024, down by 25.0% month-over-month. Of the 36 sold homes, 53% were sold under asking, 11% were sold at asking, and 36% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 21 Days | +45.4% |
Summary: Homes in 48183 had an average of 21 days on market in Oct 2024, up by 45.4% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
6 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 October 2024, 36 homes were sold in 48183; 81% of homes were sold within 30 days, 17% 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.