$1,483 Closing Credit*
$124,900
801 SqFt
3 Beds
•1 Full Bath
Omar Ghazzawi, Listing Office: Keller Williams Legacy
Is 48221, 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, 48221 was a Seller's Market.
Key Takeaway
48221 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48221, MI
How much do homes in 48221, MI cost?
Median Sold Price
$158,000
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,833(+14.4%)
Key Takeaway
Homes in 48221 have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in 48221 was $158,000 in October 2024, up 14.4% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $93K | - | N/A |
| 2 Bedrooms | $51.8K | $70K | +35.1% |
| 3 Bedrooms | $125K | $137.6K | +10.1% |
| 4 Bedrooms | $181K | $215K | +18.8% |
| 5+ Bedrooms | $298K | $288.5K | -3.2% |
Summary: 48221 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 35.1%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 3.2%.
Housing Supply in 48221, MI
How many homes are available in 48221, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 212 | 249 | +17.5% |
Summary: The 48221 real estate market had 249 homes for sale in October 2024, a 17.5% 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 | 11 | 13 | +18.2% |
| 3 Bedrooms | 129 | 158 | +22.5% |
| 4 Bedrooms | 46 | 54 | +17.4% |
| 5+ Bedrooms | 26 | 24 | -7.7% |
Summary: The 48221 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 18.2%, 3 bedroom homes increased by 22.5%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 37 | +12.1% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48221, you may be able to get a good deal. 54.1% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in 48221 in October 2024, up by 12.1% month-over-month. Of the 37 sold homes, 54% were sold under asking, 11% were sold at asking, and 35% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 29 Days | -6.7% |
Summary: Homes in 48221 had an average of 29 days on market in Oct 2024, down by 6.7% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 37 homes were sold in 48221; 76% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.