$2,969 Closing Credit*
$250,000
975 SqFt
2 Beds
•1 Full Bath
Kitty Campbell, Listing Office: Crossroads Real Estate of Brighton
Is 48189, 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, 48189 has remained a Seller's Market.
Key Takeaway
48189 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48189, MI
How much do homes in 48189, MI cost?
Median Sold Price
$390,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,000(+6.8%)
Key Takeaway
Homes in 48189 have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in 48189 was $390,000 in October 2024, up 6.8% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $500K | $360.3K | -27.9% |
| 2 Bedrooms | $265K | $230K | -13.2% |
| 3 Bedrooms | $339K | $375K | +10.6% |
| 4 Bedrooms | $450K | $460K | +2.2% |
| 5+ Bedrooms | $438K | $556.2K | +27.0% |
Summary: 48189 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 27.9%, 2 bedroom homes decreased by 13.2%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 27%.
Housing Supply in 48189, MI
How many homes are available in 48189, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 45 | 0.0% |
Summary: The 48189 real estate market had 45 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 12 | 9 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48189 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 10%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 12 | +71.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48189, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in 48189 in October 2024, up by 71.4% month-over-month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for 48189, MI
How long does it take to sell a home in 48189, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 46 Days | +185.8% |
Summary: Homes in 48189 had an average of 46 days on market in Oct 2024, up by 185.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48189 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in 48189; 58% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
