$5,047 Closing Credit*
$425,000
2,162 SqFt
5 Beds
•3 Full Baths
Cynthia Morfin, Listing Office: eXp RealtyLLC
Is 48216, 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, 48216 was a Seller's Market.
Key Takeaway
48216 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48216, MI
How much do homes in 48216, MI cost?
Median Sold Price
$289,750
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,750(+3.9%)
Key Takeaway
Homes in 48216 have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in 48216 was $289,750 in October 2024, up 3.9% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $277K | $286.4K | +3.4% |
| 2 Bedrooms | $535K | $439.6K | -17.8% |
| 3 Bedrooms | $145K | $247.5K | +70.7% |
| 4 Bedrooms | $261.7K | $219.5K | -16.1% |
| 5+ Bedrooms | $337.5K | $115K | -65.9% |
Summary: 48216 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes decreased by 17.8%, 3 bedroom homes increased by 70.7%, 4 bedroom homes decreased by 16.1%, and 5+ bedroom homes decreased by 65.9%.
Housing Supply in 48216, MI
How many homes are available in 48216, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 17 | -5.6% |
Summary: The 48216 real estate market had 17 homes for sale in October 2024, a 5.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48216 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 decreased by 14.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48216, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 48216 in October 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48216, MI
How long does it take to sell a home in 48216, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 7 Days | 11 Days | +57.1% |
Summary: Homes in 48216 had an average of 11 days on market in Oct 2024, up by 57.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48216 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1 homes were sold in 48216; 100% of homes were sold within 30 days, 0% 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.