$891 Closing Credit*
$75,000
1,114 SqFt
3 Beds
•1 Full Bath
David Robinson, Listing Office: Home Source Realty LLC
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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.