$3,064 Closing Credit*
$258,000
2,324 SqFt
3 Beds
•1 Full Bath, 1 Partial
Julie Trauben, Listing Office: KW Showcase Realty
Is 48221, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48221 was a Seller's Market.
Key Takeaway
48221 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48221, MI
How much do homes in 48221, MI cost?
Median Sold Price
$162,937
$91/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$27,937(+20.7%)
Key Takeaway
Homes in 48221 have sold for 20.7% more than they did a year ago.
Summary: The median home sold price in 48221 was $162,937 in November 2024, up 20.7% from last year, and the median price per square foot was $91.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $93K | - | N/A |
| 2 Bedrooms | $51.9K | $70K | +34.9% |
| 3 Bedrooms | $125K | $137.8K | +10.3% |
| 4 Bedrooms | $200K | $220K | +10.0% |
| 5+ Bedrooms | $299K | $280K | -6.4% |
Summary: 48221 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 34.9%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 6.4%.
Housing Supply in 48221, MI
How many homes are available in 48221, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 242 | 262 | +8.3% |
Summary: The 48221 real estate market had 262 homes for sale in November 2024, a 8.3% 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 | 14 | 15 | +7.1% |
| 3 Bedrooms | 152 | 162 | +6.6% |
| 4 Bedrooms | 52 | 56 | +7.7% |
| 5+ Bedrooms | 24 | 29 | +20.8% |
Summary: The 48221 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 7.1%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 20.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 45 | 32 | -28.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48221, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in 48221 in November 2024, down by 28.9% month-over-month. Of the 32 sold homes, 44% were sold under asking, 6% were sold at asking, and 50% were sold over asking.
Days on Market for 48221, MI
How long does it take to sell a home in 48221, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 36 Days | +9.8% |
Summary: Homes in 48221 had an average of 36 days on market in Nov 2024, up by 9.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48221 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 32 homes were sold in 48221; 50% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 9% 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.