$4,857 Closing Credit*
$409,000
1,955 SqFt
4 Beds
•2 Full Baths, 1 Partial
Gaye A Butler, Listing Office: Robinson Realty & Management Group Inc
Is 48202, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 48202 was a Seller's Market.
Key Takeaway
48202 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48202, MI
How much do homes in 48202, MI cost?
Median Sold Price
$210,750
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$21,700(-9.3%)
Key Takeaway
Homes in 48202 have sold for 9.3% less than they did a year ago.
Summary: The median home sold price in 48202 was $210,750 in October 2024, down 9.3% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $197K | +12.6% |
| 2 Bedrooms | $200K | $235K | +17.5% |
| 3 Bedrooms | $100K | $195K | +95.0% |
| 4 Bedrooms | $275K | $262.5K | -4.5% |
| 5+ Bedrooms | $193K | $225K | +16.6% |
Summary: 48202 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 95%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 16.6%.
Median Sold Price Compared To Nearby Zip Codes
| 48206 | $123K | $202K | +64.2% |
| 48202 | $232.4K | $210.7K | -9.3% |
Housing Supply in 48202, MI
How many homes are available in 48202, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 66 | 89 | +34.8% |
Summary: The 48202 real estate market had 89 homes for sale in October 2024, a 34.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 9 | +28.6% |
| 2 Bedrooms | 8 | 13 | +62.5% |
| 3 Bedrooms | 13 | 23 | +76.9% |
| 4 Bedrooms | 18 | 25 | +38.9% |
| 5+ Bedrooms | 20 | 19 | -5.0% |
Summary: The 48202 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 62.5%, 3 bedroom homes increased by 76.9%, 4 bedroom homes increased by 38.9%, and 5+ bedroom homes decreased by 5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 11 | +120.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48202, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 48202 in October 2024, up by 120.0% month-over-month. Of the 11 sold homes, 82% were sold under asking, 9% were sold at asking, and 9% were sold over asking.
Days on Market for 48202, MI
How long does it take to sell a home in 48202, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 49 Days | 145 Days | +190.8% |
Summary: Homes in 48202 had an average of 145 days on market in Oct 2024, up by 190.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 48202 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 11 homes were sold in 48202; 18% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 45% of homes were sold over 90 days.
