$5,047 Closing Credit*
$425,000
2,195 SqFt
4 Beds
•3 Full Baths
#50161777, Shana Sine-Cameron, Listing Office: Sine & Monaghan LLC
Is 48230, 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, 48230 was a Neutral Market.
Key Takeaway
48230 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48230, MI
How much do homes in 48230, MI cost?
Median Sold Price
$491,250
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$72,250(+17.2%)
Key Takeaway
Homes in 48230 have sold for 17.2% more than they did a year ago.
Summary: The median home sold price in 48230 was $491,250 in October 2024, up 17.2% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79K | $95K | +20.3% |
| 2 Bedrooms | $235K | $260K | +10.6% |
| 3 Bedrooms | $335K | $410K | +22.4% |
| 4 Bedrooms | $457.5K | $507K | +10.8% |
| 5+ Bedrooms | $755.5K | $601.2K | -20.4% |
Summary: 48230 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.3%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 20.4%.
Housing Supply in 48230, MI
How many homes are available in 48230, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 66 | 79 | +19.7% |
Summary: The 48230 real estate market had 79 homes for sale in October 2024, a 19.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 14 | +55.6% |
| 3 Bedrooms | 16 | 21 | +31.3% |
| 4 Bedrooms | 27 | 24 | -11.1% |
| 5+ Bedrooms | 14 | 20 | +42.9% |
Summary: The 48230 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 55.6%, 3 bedroom homes increased by 31.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 19 | +26.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48230, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 48230 in October 2024, up by 26.7% month-over-month. Of the 19 sold homes, 53% were sold under asking, 16% were sold at asking, and 32% were sold over asking.
Days on Market for 48230, MI
How long does it take to sell a home in 48230, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 24 Days | +12.0% |
Summary: Homes in 48230 had an average of 24 days on market in Oct 2024, up by 12% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48230 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in 48230; 63% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 0% 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.