$950 Closing Credit*
$80,000
735 SqFt
2 Beds
•2 Full Baths
Adison Cook, Listing Office: Epique Realty
Is 48217, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$64,000
$60/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$8,500(+15.3%)
Key Takeaway
Homes in 48217 have sold for 15.3% more than they did a year ago.
Summary: The median home sold price in 48217 was $64,000 in October 2024, up 15.3% from last year, and the median price per square foot was $60.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $30K | $64.5K | +115.0% |
| 3 Bedrooms | $55.5K | $60.2K | +8.6% |
| 4 Bedrooms | $61K | $114K | +86.9% |
| 5+ Bedrooms | $51.5K | $57K | +10.7% |
Summary: 48217 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 115%, 3 bedroom homes increased by 8.6%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Summary: The 48217 real estate market had 13 homes for sale in October 2024, a 8.3% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48217 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 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48217, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 48217 in October 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 52 Days | 11 Days | -79.1% |
Summary: Homes in 48217 had an average of 11 days on market in Oct 2024, down by 79.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were 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 October 2024, 4 homes were sold in 48217; 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.
