$1,544 Closing Credit*
$130,000
1,163 SqFt
4 Beds
•1 Full Bath, 1 Partial
James Lucas, Listing Office: GPM Real Estate by eXp Realty
Is 48225, 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, 48225 has remained a Seller's Market.
Key Takeaway
48225 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48225, MI
How much do homes in 48225, MI cost?
Median Sold Price
$149,500
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,500(+7.6%)
Key Takeaway
Homes in 48225 have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in 48225 was $149,500 in October 2024, up 7.6% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $38K | $49.5K | +30.3% |
| 2 Bedrooms | $72.4K | $100K | +38.0% |
| 3 Bedrooms | $150K | $156.8K | +4.6% |
| 4 Bedrooms | $173K | $185.7K | +7.4% |
| 5+ Bedrooms | $260K | $251.2K | -3.4% |
Summary: 48225 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.3%, 2 bedroom homes increased by 38%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 3.4%.
Housing Supply in 48225, MI
How many homes are available in 48225, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 107 | 117 | +9.3% |
Summary: The 48225 real estate market had 117 homes for sale in October 2024, a 9.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 24 | 28 | +16.7% |
| 3 Bedrooms | 74 | 76 | +2.7% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48225 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 16.7%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48225, you could pay more than the asking price. 47.8% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in 48225 in October 2024, up by 9.5% month-over-month. Of the 23 sold homes, 22% were sold under asking, 30% were sold at asking, and 48% were sold over asking.
Days on Market for 48225, MI
How long does it take to sell a home in 48225, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 30 Days | +60.3% |
Summary: Homes in 48225 had an average of 30 days on market in Oct 2024, up by 60.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48225 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 23 homes were sold in 48225; 70% of homes were sold within 30 days, 22% 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.