$190,000
0.24 Acres
Land
Fay Salmaci, Listing Office: ARG Realty
Is 48193, 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, 48193 has remained a Seller's Market.
Key Takeaway
48193 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48193, MI
How much do homes in 48193, MI cost?
Median Sold Price
$217,750
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,750(+8.9%)
Key Takeaway
Homes in 48193 have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in 48193 was $217,750 in October 2024, up 8.9% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $184.9K | $195K | +5.5% |
| 3 Bedrooms | $195K | $198.1K | +1.6% |
| 4 Bedrooms | $286K | $317.5K | +11.0% |
| 5+ Bedrooms | $329.9K | $375K | +13.7% |
Summary: 48193 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 5.5%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 13.7%.
Housing Supply in 48193, MI
How many homes are available in 48193, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 35 | -16.7% |
Summary: The 48193 real estate market had 35 homes for sale in October 2024, a 16.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 23 | 16 | -30.4% |
| 4 Bedrooms | 14 | 11 | -21.4% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48193 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 increased by 50%, 3 bedroom homes decreased by 30.4%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 9 | -43.8% |
Asking Price vs. Sold Price
5 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 48193, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 48193 in October 2024, down by 43.8% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for 48193, MI
How long does it take to sell a home in 48193, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 28 Days | +185.6% |
Summary: Homes in 48193 had an average of 28 days on market in Oct 2024, up by 185.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48193 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in 48193; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
