$1,186 Closing Credit*
$99,900
1,748 SqFt
3 Beds
•2 Full Baths
Tomomi Ishigami, Listing Office: Trowbridge Realty
Is 48203, 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, 48203 was a Seller's Market.
Key Takeaway
48203 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48203, MI
How much do homes in 48203, MI cost?
Median Sold Price
$60,000
$53/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,000(+13.2%)
Key Takeaway
Homes in 48203 have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in 48203 was $60,000 in October 2024, up 13.2% from last year, and the median price per square foot was $53.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $22K | - | N/A |
| 2 Bedrooms | $50K | $55K | +10.0% |
| 3 Bedrooms | $43K | $48K | +11.6% |
| 4 Bedrooms | $60K | $60K | 0% |
| 5+ Bedrooms | $650K | $250K | -61.5% |
Summary: 48203 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 10%, 3 bedroom homes increased by 11.6%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 61.5%.
Housing Supply in 48203, MI
How many homes are available in 48203, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 76 | 79 | +3.9% |
Summary: The 48203 real estate market had 79 homes for sale in October 2024, a 3.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 41 | 45 | +9.8% |
| 4 Bedrooms | 16 | 17 | +6.3% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The 48203 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 decreased by 14.3%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 12 | -14.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48203, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in 48203 in October 2024, down by 14.3% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.
Days on Market for 48203, MI
How long does it take to sell a home in 48203, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 116 Days | 38 Days | -66.7% |
Summary: Homes in 48203 had an average of 38 days on market in Oct 2024, down by 66.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48203 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in 48203; 58% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
