$1,769 Closing Credit*
$149,000
1,350 SqFt
3 Beds
•1 Full Bath, 1 Partial
Fadol Awada, Listing Office: Empire Realty Group
Is 48223, 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, 48223 was a Seller's Market.
Key Takeaway
48223 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48223, MI
How much do homes in 48223, MI cost?
Median Sold Price
$117,000
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$21,000(+21.9%)
Key Takeaway
Homes in 48223 have sold for 21.9% more than they did a year ago.
Summary: The median home sold price in 48223 was $117,000 in October 2024, up 21.9% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $50K | N/A |
| 2 Bedrooms | $44.7K | $48K | +7.3% |
| 3 Bedrooms | $105K | $125K | +19.0% |
| 4 Bedrooms | $185.5K | $216K | +16.4% |
| 5+ Bedrooms | $285.4K | $195K | -31.7% |
Summary: 48223 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 7.3%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 31.7%.
Housing Supply in 48223, MI
How many homes are available in 48223, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 88 | 101 | +14.8% |
Summary: The 48223 real estate market had 101 homes for sale in October 2024, a 14.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 20 | 20 | 0.0% |
| 3 Bedrooms | 54 | 66 | +22.2% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48223 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48223, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 48223 in October 2024, down by 7.1% month-over-month. Of the 13 sold homes, 62% were sold under asking, 15% were sold at asking, and 23% were sold over asking.
Days on Market for 48223, MI
How long does it take to sell a home in 48223, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 36 Days | +9.6% |
Summary: Homes in 48223 had an average of 36 days on market in Oct 2024, up by 9.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48223 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in 48223; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% 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.