$6,234 Closing Credit*
$525,000
3,823 SqFt
6 Beds
•3 Full Baths, 1 Partial
Schylbea J Hopkins, Listing Office: A Star National Realty
Is 48206, 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, 48206 has remained a Buyer's 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
$197,500
$81/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$57,500(+41.1%)
Key Takeaway
Homes in 48206 have sold for 41.1% more than they did a year ago.
Summary: The median home sold price in 48206 was $197,500 in November 2024, up 41.1% from last year, and the median price per square foot was $81.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $22K | N/A |
| 2 Bedrooms | $359.9K | $382.2K | +6.2% |
| 3 Bedrooms | $47.5K | $80K | +68.4% |
| 4 Bedrooms | $152.5K | $176.4K | +15.7% |
| 5+ Bedrooms | $342.5K | $302.5K | -11.7% |
Summary: 48206 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 6.2%, 3 bedroom homes increased by 68.4%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes decreased by 11.7%.
Housing Supply in 48206, MI
How many homes are available in 48206, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 81 | 96 | +18.5% |
Summary: The 48206 real estate market had 96 homes for sale in November 2024, a 18.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 34 | 42 | +23.5% |
| 4 Bedrooms | 15 | 21 | +40.0% |
| 5+ Bedrooms | 27 | 30 | +11.1% |
Summary: The 48206 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 40%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48206, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 48206 in November 2024, up by 28.6% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 58 Days | 57 Days | -1.5% |
Summary: Homes in 48206 had an average of 57 days on market in Nov 2024, down by 1.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 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 November 2024, 9 homes were sold in 48206; 44% of homes were sold within 30 days, 22% 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. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.