$831 Closing Credit*
$70,000
1,005 SqFt
2 Beds
•1 Full Bath
Adison Cook, Listing Office: Epique Realty
Is 48228, 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, 48228 was a Seller's Market.
Key Takeaway
48228 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 48228, MI
How much do homes in 48228, MI cost?
Median Sold Price
$71,354
$69/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,354(+29.7%)
Key Takeaway
Homes in 48228 have sold for 29.7% more than they did a year ago.
Summary: The median home sold price in 48228 was $71,354 in October 2024, up 29.7% from last year, and the median price per square foot was $69.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $39.5K | N/A |
| 2 Bedrooms | $50K | $47.7K | -4.5% |
| 3 Bedrooms | $57K | $75K | +31.6% |
| 4 Bedrooms | $88K | $93.2K | +6.0% |
| 5+ Bedrooms | $500K | $115K | -77.0% |
Summary: 48228 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 decreased by 4.5%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 77%.
Housing Supply in 48228, MI
How many homes are available in 48228, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 195 | 229 | +17.4% |
Summary: The 48228 real estate market had 229 homes for sale in October 2024, a 17.4% 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 | 38 | 52 | +36.8% |
| 3 Bedrooms | 149 | 166 | +11.4% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The 48228 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 36.8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 34 | 0.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48228, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in 48228 in October 2024, the same as the previous month. Of the 34 sold homes, 53% were sold under asking, 21% were sold at asking, and 26% were sold over asking.
Days on Market for 48228, MI
How long does it take to sell a home in 48228, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 48 Days | 38 Days | -20.0% |
Summary: Homes in 48228 had an average of 38 days on market in Oct 2024, down by 20% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48228 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 34 homes were sold in 48228; 74% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 12% 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.