$475 Closing Credit*
$40,000
1,698 SqFt
2 Full Baths
Corey Stone, Listing Office: REALTEAM Real Estate
Is 48238, 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, 48238 was a Seller's Market.
Key Takeaway
48238 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48238, MI
How much do homes in 48238, MI cost?
Median Sold Price
$62,125
$47/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$6,875(+12.4%)
Key Takeaway
Homes in 48238 have sold for 12.4% more than they did a year ago.
Summary: The median home sold price in 48238 was $62,125 in October 2024, up 12.4% from last year, and the median price per square foot was $47.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $132K | N/A |
| 2 Bedrooms | $42.5K | $33.5K | -21.2% |
| 3 Bedrooms | $55K | $64K | +16.4% |
| 4 Bedrooms | $67.5K | $63K | -6.7% |
| 5+ Bedrooms | $67.5K | $121.4K | +79.9% |
Summary: 48238 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 21.2%, 3 bedroom homes increased by 16.4%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 79.9%.
Housing Supply in 48238, MI
How many homes are available in 48238, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 137 | 142 | +3.6% |
Summary: The 48238 real estate market had 142 homes for sale in October 2024, a 3.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 14 | 17 | +21.4% |
| 3 Bedrooms | 82 | 87 | +6.1% |
| 4 Bedrooms | 35 | 30 | -14.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 48238 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 18 | -14.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48238, you may be able to get a good deal. 38.9% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 48238 in October 2024, down by 14.3% month-over-month. Of the 18 sold homes, 39% were sold under asking, 28% were sold at asking, and 33% were sold over asking.
Days on Market for 48238, MI
How long does it take to sell a home in 48238, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 61 Days | 42 Days | -29.8% |
Summary: Homes in 48238 had an average of 42 days on market in Oct 2024, down by 29.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48238 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in 48238; 44% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 11% 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.