$3,497 Closing Credit*
$294,500
1,221 SqFt
3 Beds
•1 Full Bath, 1 Partial
Terra Haller, Listing Office: Block Real Estate
Is 48198, 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, 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
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,250(+10.5%)
Key Takeaway
Homes in 48198 have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in 48198 was $213,000 in November 2024, up 10.5% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70.7K | $164K | +131.8% |
| 2 Bedrooms | $154.9K | $180K | +16.2% |
| 3 Bedrooms | $190K | $213.3K | +12.3% |
| 4 Bedrooms | $330K | $300K | -9.1% |
| 5+ Bedrooms | $333K | $530K | +59.2% |
Summary: 48198 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 131.8%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 12.3%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 59.2%.
Housing Supply in 48198, MI
How many homes are available in 48198, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 118 | 106 | -10.2% |
Summary: The 48198 real estate market had 106 homes for sale in November 2024, a 10.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 19 | 15 | -21.1% |
| 3 Bedrooms | 72 | 64 | -11.1% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 48198 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 21.1%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 | 27 | -20.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48198, you could pay more than the asking price. 37% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in 48198 in November 2024, down by 20.6% month-over-month. Of the 27 sold homes, 30% were sold under asking, 33% were sold at asking, and 37% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 17 Days | -53.1% |
Summary: Homes in 48198 had an average of 17 days on market in Nov 2024, down by 53.1% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48198 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 27 homes were sold in 48198; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
