$2,458 Closing Credit*
$206,999
1,064 SqFt
3 Beds
•1 Full Bath, 1 Partial
Riley Spitler, Listing Office: Century 21 Curran & Oberski
Is 48198, 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, 48198 has remained a Seller's Market.
Key Takeaway
48198 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48198, MI
How much do homes in 48198, MI cost?
Median Sold Price
$213,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,773(+8.5%)
Key Takeaway
Homes in 48198 have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in 48198 was $213,000 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 | $70.7K | $164K | +131.8% |
| 2 Bedrooms | $155K | $170K | +9.7% |
| 3 Bedrooms | $190K | $215K | +13.2% |
| 4 Bedrooms | $329.4K | $295K | -10.5% |
| 5+ Bedrooms | $617K | $410K | -33.5% |
Summary: 48198 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 131.8%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 13.2%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes decreased by 33.5%.
Housing Supply in 48198, MI
How many homes are available in 48198, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 106 | 118 | +11.3% |
Summary: The 48198 real estate market had 118 homes for sale in October 2024, a 11.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 17 | 20 | +17.6% |
| 3 Bedrooms | 70 | 73 | +4.3% |
| 4 Bedrooms | 13 | 17 | +30.8% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 48198 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 17.6%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 31 | +10.7% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48198, you may be able to get a good deal. 48.4% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in 48198 in October 2024, up by 10.7% month-over-month. Of the 31 sold homes, 48% were sold under asking, 26% were sold at asking, and 26% were sold over asking.
Days on Market for 48198, MI
How long does it take to sell a home in 48198, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 21 Days | -28.0% |
Summary: Homes in 48198 had an average of 21 days on market in Oct 2024, down by 28% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48198 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 31 homes were sold in 48198; 68% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
