$1,057 Closing Credit*
$88,999
2 Beds
•1 Full Bath, 1 Partial
Edwin Jordan, Kaden Wilson, Listing Office: Monopoly Team Enterprises LLC
Is 48217, 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, 48217 has remained a Seller's Market.
Key Takeaway
48217 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48217, MI
How much do homes in 48217, MI cost?
Median Sold Price
$64,200
$55/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,200(+14.6%)
Key Takeaway
Homes in 48217 have sold for 14.6% more than they did a year ago.
Summary: The median home sold price in 48217 was $64,200 in November 2024, up 14.6% from last year, and the median price per square foot was $55.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $28K | $64.5K | +130.4% |
| 3 Bedrooms | $57K | $62.3K | +9.4% |
| 4 Bedrooms | $61K | $114K | +86.9% |
| 5+ Bedrooms | $51.5K | $57K | +10.7% |
Summary: 48217 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 130.4%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 86.9%, and 5+ bedroom homes increased by 10.7%.
Housing Supply in 48217, MI
How many homes are available in 48217, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Summary: The 48217 real estate market had 15 homes for sale in November 2024, a 7.1% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 48217 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 increased by 100%, 3 bedroom homes increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48217, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 48217 in November 2024, down by 40.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48217, MI
How long does it take to sell a home in 48217, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 101 Days | 24 Days | -75.7% |
Summary: Homes in 48217 had an average of 24 days on market in Nov 2024, down by 75.7% compared to last year.
Breakdown of Home Sale Times
2 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 48217 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in 48217; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
