$2,244 Closing Credit*
$189,000
1,007 SqFt
3 Beds
•1 Full Bath
Mary May, Listing Office: Marketlenk LLC
Is 48225, 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, 48225 was a Seller's Market.
Key Takeaway
48225 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48225, MI
How much do homes in 48225, MI cost?
Median Sold Price
$150,000
$102/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$14,300(+10.5%)
Key Takeaway
Homes in 48225 have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in 48225 was $150,000 in November 2024, up 10.5% from last year, and the median price per square foot was $102.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $30K | $49.5K | +65.0% |
| 2 Bedrooms | $73K | $100K | +37.0% |
| 3 Bedrooms | $149.5K | $156K | +4.3% |
| 4 Bedrooms | $160K | $195K | +21.9% |
| 5+ Bedrooms | $255.2K | $237K | -7.1% |
Summary: 48225 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 65%, 2 bedroom homes increased by 37%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes decreased by 7.1%.
Housing Supply in 48225, MI
How many homes are available in 48225, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 111 | 103 | -7.2% |
Summary: The 48225 real estate market had 103 homes for sale in November 2024, a 7.2% decrease 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 | 27 | 29 | +7.4% |
| 3 Bedrooms | 74 | 62 | -16.2% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48225 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 7.4%, 3 bedroom homes decreased by 16.2%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 8 | -69.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48225, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 48225 in November 2024, down by 69.2% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 25 Days | -14.6% |
Summary: Homes in 48225 had an average of 25 days on market in Nov 2024, down by 14.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48225 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in 48225; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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.