$2,850 Closing Credit*
$240,000
1,850 SqFt
3 Beds
•2 Full Baths
Alison Reedy, Listing Office: BBR Realty
Is 48193, 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, 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
$219,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$19,000(+9.5%)
Key Takeaway
Homes in 48193 have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in 48193 was $219,000 in November 2024, up 9.5% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $179.9K | $202.5K | +12.5% |
| 3 Bedrooms | $195K | $200K | +2.6% |
| 4 Bedrooms | $287.5K | $335K | +16.5% |
| 5+ Bedrooms | $299.5K | $375K | +25.2% |
Summary: 48193 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes increased by 25.2%.
Housing Supply in 48193, MI
How many homes are available in 48193, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 37 | 31 | -16.2% |
Summary: The 48193 real estate market had 31 homes for sale in November 2024, a 16.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 3 | -50.0% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 13 | 10 | -23.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48193 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48193, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 48193 in November 2024, down by 9.1% month-over-month. Of the 10 sold homes, 60% were sold under asking, 10% were sold at asking, and 30% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 18 Days | +33.3% |
Summary: Homes in 48193 had an average of 18 days on market in Nov 2024, up by 33.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was 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 November 2024, 10 homes were sold in 48193; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
