$2,849 Closing Credit*
$239,900
1,656 SqFt
3 Beds
•2 Full Baths
Megan Leach, Listing Office: KW Professionals
Is 48214, 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, 48214 was a Neutral Market.
Key Takeaway
48214 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48214, MI
How much do homes in 48214, MI cost?
Median Sold Price
$100,000
$73/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$53,950(-35.0%)
Key Takeaway
Homes in 48214 have sold for 35% less than they did a year ago.
Summary: The median home sold price in 48214 was $100,000 in October 2024, down 35% from last year, and the median price per square foot was $73.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $58.2K | $59K | +1.3% |
| 2 Bedrooms | $119K | $129.9K | +9.2% |
| 3 Bedrooms | $112.2K | $60K | -46.5% |
| 4 Bedrooms | $173K | $109.3K | -36.8% |
| 5+ Bedrooms | $389K | $415.5K | +6.8% |
Summary: 48214 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 9.2%, 3 bedroom homes decreased by 46.5%, 4 bedroom homes decreased by 36.8%, and 5+ bedroom homes increased by 6.8%.
Housing Supply in 48214, MI
How many homes are available in 48214, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 123 | 134 | +8.9% |
Summary: The 48214 real estate market had 134 homes for sale in October 2024, a 8.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 12 | 0.0% |
| 2 Bedrooms | 21 | 27 | +28.6% |
| 3 Bedrooms | 46 | 52 | +13.0% |
| 4 Bedrooms | 28 | 22 | -21.4% |
| 5+ Bedrooms | 16 | 21 | +31.3% |
Summary: The 48214 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 28.6%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes increased by 31.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 7 | -53.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48214, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 48214 in October 2024, down by 53.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for 48214, MI
How long does it take to sell a home in 48214, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 77 Days | +207.2% |
Summary: Homes in 48214 had an average of 77 days on market in Oct 2024, up by 207.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48214 has remained consistent over time.
Summary: During October 2024, 7 homes were sold in 48214; 14% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 29% 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.