$4,691 Closing Credit*
$395,000
2,172 SqFt
4 Beds
•2 Full Baths, 1 Partial
Lori Beatty, Listing Office: RE/MAX New Trend
Is 48185, 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, 48185 has remained a Seller's Market.
Key Takeaway
48185 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48185, MI
How much do homes in 48185, MI cost?
Median Sold Price
$225,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,700(+8.5%)
Key Takeaway
Homes in 48185 have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in 48185 was $225,000 in October 2024, up 8.5% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79K | $78K | -1.3% |
| 2 Bedrooms | $140K | $146.6K | +4.7% |
| 3 Bedrooms | $222.8K | $230K | +3.2% |
| 4 Bedrooms | $344.9K | $327.5K | -5.1% |
| 5+ Bedrooms | $447.2K | $289K | -35.4% |
Summary: 48185 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes decreased by 35.4%.
Housing Supply in 48185, MI
How many homes are available in 48185, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 99 | 122 | +23.2% |
Summary: The 48185 real estate market had 122 homes for sale in October 2024, a 23.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 25 | 40 | +60.0% |
| 3 Bedrooms | 53 | 62 | +17.0% |
| 4 Bedrooms | 19 | 16 | -15.8% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48185 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 17%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 39 | +30.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48185, you could pay more than the asking price. 38.5% of homes here sold above asking price last month.
Summary: A total of 39 homes were sold or pending in 48185 in October 2024, up by 30.0% month-over-month. Of the 39 sold homes, 28% were sold under asking, 33% were sold at asking, and 38% were sold over asking.
Days on Market for 48185, MI
How long does it take to sell a home in 48185, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 16 Days | +12.8% |
Summary: Homes in 48185 had an average of 16 days on market in Oct 2024, up by 12.8% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48185 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 39 homes were sold in 48185; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% 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.