$2,375 Closing Credit*
$199,999
11,007 SqFt
9 Beds
•3 Full Baths
Tammy Latimer, Listing Office: KW Home Realty
Is 48206, 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, 48206 was a Neutral Market.
Key Takeaway
48206 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48206, MI
How much do homes in 48206, MI cost?
Median Sold Price
$202,000
$90/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$79,000(+64.2%)
Key Takeaway
Homes in 48206 have sold for 64.2% more than they did a year ago.
Summary: The median home sold price in 48206 was $202,000 in October 2024, up 64.2% from last year, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $191.4K | $380.3K | +98.6% |
| 3 Bedrooms | $38.5K | $75K | +94.8% |
| 4 Bedrooms | $122.5K | $250K | +104.1% |
| 5+ Bedrooms | $349K | $282.5K | -19.1% |
Summary: 48206 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 98.6%, 3 bedroom homes increased by 94.8%, 4 bedroom homes increased by 104.1%, and 5+ bedroom homes decreased by 19.1%.
Housing Supply in 48206, MI
How many homes are available in 48206, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 91 | 95 | +4.4% |
Summary: The 48206 real estate market had 95 homes for sale in October 2024, a 4.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 34 | 34 | 0.0% |
| 4 Bedrooms | 20 | 22 | +10.0% |
| 5+ Bedrooms | 30 | 32 | +6.7% |
Summary: The 48206 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 6 | -64.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48206, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 48206 in October 2024, down by 64.7% month-over-month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for 48206, MI
How long does it take to sell a home in 48206, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 54 Days | 66 Days | +22.8% |
Summary: Homes in 48206 had an average of 66 days on market in Oct 2024, up by 22.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48206 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in 48206; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.