$1,068 Closing Credit*
$89,900
974 SqFt
3 Beds
•1 Full Bath
Ali M Farhat, Listing Office: UBTEO
Is 48229, 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, 48229 was a Seller's Market.
Key Takeaway
48229 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48229, MI
How much do homes in 48229, MI cost?
Median Sold Price
$84,999
$79/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,999(+13.3%)
Key Takeaway
Homes in 48229 have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in 48229 was $84,999 in October 2024, up 13.3% from last year, and the median price per square foot was $79.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $37.5K | N/A |
| 2 Bedrooms | $51K | $62K | +21.6% |
| 3 Bedrooms | $84.8K | $93K | +9.6% |
| 4 Bedrooms | $94K | $92K | -2.1% |
| 5+ Bedrooms | $120K | $168K | +40.0% |
Summary: 48229 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 21.6%, 3 bedroom homes increased by 9.6%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 40%.
Housing Supply in 48229, MI
How many homes are available in 48229, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 34 | +13.3% |
Summary: The 48229 real estate market had 34 homes for sale in October 2024, a 13.3% 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 | 8 | 11 | +37.5% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48229 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 increased by 37.5%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48229, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 48229 in October 2024, down by 57.1% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for 48229, MI
How long does it take to sell a home in 48229, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 25 Days | +6.0% |
Summary: Homes in 48229 had an average of 25 days on market in Oct 2024, up by 6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48229 has remained consistent over time.
Summary: During October 2024, 3 homes were sold in 48229; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
