$3,028 Closing Credit*
$255,000
2,352 SqFt
2 Full Baths, 2 Partial
Faruque Miah, Listing Office: R2M Realty
Is 48212, 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, 48212 was a Seller's Market.
Key Takeaway
48212 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 48212, MI
How much do homes in 48212, MI cost?
Median Sold Price
$160,000
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,950(+11.8%)
Key Takeaway
Homes in 48212 have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in 48212 was $160,000 in October 2024, up 11.8% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $90K | N/A |
| 2 Bedrooms | $98K | $110K | +12.2% |
| 3 Bedrooms | $140K | $150K | +7.1% |
| 4 Bedrooms | $160K | $175K | +9.4% |
| 5+ Bedrooms | $209K | $214.2K | +2.5% |
Summary: 48212 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 12.2%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 2.5%.
Housing Supply in 48212, MI
How many homes are available in 48212, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 55 | +22.2% |
Summary: The 48212 real estate market had 55 homes for sale in October 2024, a 22.2% 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 | 13 | +85.7% |
| 3 Bedrooms | 23 | 27 | +17.4% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 48212 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 increased by 85.7%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48212, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48212 in October 2024, down by 27.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for 48212, MI
How long does it take to sell a home in 48212, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 18 Days | -49.9% |
Summary: Homes in 48212 had an average of 18 days on market in Oct 2024, down by 49.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48212 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in 48212; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% 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.