$891 Closing Credit*
$75,000
1,000 SqFt
2 Beds
•1 Full Bath
Jonathan Golden, Listing Office: House of Realty LLC
Is 48235, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 48235 has remained a Seller's Market.
Key Takeaway
48235 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48235, MI
How much do homes in 48235, MI cost?
Median Sold Price
$100,988
$85/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$12,800(+14.5%)
Key Takeaway
Homes in 48235 have sold for 14.5% more than they did a year ago.
Summary: The median home sold price in 48235 was $100,988 in October 2024, up 14.5% from last year, and the median price per square foot was $85.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $56.2K | $59.9K | +6.5% |
| 3 Bedrooms | $90K | $110K | +22.2% |
| 4 Bedrooms | $126.5K | $140K | +10.7% |
| 5+ Bedrooms | $130K | $107.9K | -16.9% |
Summary: 48235 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 6.5%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 16.9%.
Housing Supply in 48235, MI
How many homes are available in 48235, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 256 | 273 | +6.6% |
Summary: The 48235 real estate market had 273 homes for sale in October 2024, a 6.6% 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 | 32 | 34 | +6.3% |
| 3 Bedrooms | 212 | 217 | +2.4% |
| 4 Bedrooms | 12 | 21 | +75.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48235 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 6.3%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 56 | +14.3% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48235, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 56 homes were sold or pending in 48235 in October 2024, up by 14.3% month-over-month. Of the 56 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.
Days on Market for 48235, MI
How long does it take to sell a home in 48235, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 49 Days | +18.4% |
Summary: Homes in 48235 had an average of 49 days on market in Oct 2024, up by 18.4% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48235 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 56 homes were sold in 48235; 48% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
