$1,484 Closing Credit*
$125,000
1,149 SqFt
3 Beds
•1 Full Bath
Bashar G Nijem, Listing Office: Downtown Realty
Is 48203, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48203 was a Seller's Market.
Key Takeaway
48203 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48203, MI
How much do homes in 48203, MI cost?
Median Sold Price
$62,000
$53/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,000(+19.2%)
Key Takeaway
Homes in 48203 have sold for 19.2% more than they did a year ago.
Summary: The median home sold price in 48203 was $62,000 in November 2024, up 19.2% from last year, and the median price per square foot was $53.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $36K | $56.3K | +56.6% |
| 3 Bedrooms | $45.3K | $48K | +5.8% |
| 4 Bedrooms | $60K | $85K | +41.7% |
| 5+ Bedrooms | $650K | $267.5K | -58.8% |
Summary: 48203 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 56.6%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes decreased by 58.8%.
Housing Supply in 48203, MI
How many homes are available in 48203, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 80 | 90 | +12.5% |
Summary: The 48203 real estate market had 90 homes for sale in November 2024, a 12.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 2 | -66.7% |
| 3 Bedrooms | 44 | 55 | +25.0% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The 48203 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 66.7%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 5 | -61.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48203, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48203 in November 2024, down by 61.5% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 41 Days | 116 Days | +180.3% |
Summary: Homes in 48203 had an average of 116 days on market in Nov 2024, up by 180.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was 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 November 2024, 5 homes were sold in 48203; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.