$8,074 Closing Credit*
$679,900
1,671 SqFt
3 Beds
•1 Full Bath, 1 Partial
Marina Bojaj, Listing Office: Remirus
Is 48307, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 48307 has remained a Seller's Market.
Key Takeaway
48307 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48307, MI
How much do homes in 48307, MI cost?
Median Sold Price
$385,666
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$35,666(+10.2%)
Key Takeaway
Homes in 48307 have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in 48307 was $385,666 in November 2024, up 10.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112.5K | $138K | +22.7% |
| 2 Bedrooms | $238.5K | $270K | +13.2% |
| 3 Bedrooms | $362.5K | $379.9K | +4.8% |
| 4 Bedrooms | $490K | $564.5K | +15.2% |
| 5+ Bedrooms | $812.5K | $701.5K | -13.7% |
Summary: 48307 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.7%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes decreased by 13.7%.
Housing Supply in 48307, MI
How many homes are available in 48307, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 147 | 126 | -14.3% |
Summary: The 48307 real estate market had 126 homes for sale in November 2024, a 14.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 42 | 39 | -7.1% |
| 3 Bedrooms | 56 | 44 | -21.4% |
| 4 Bedrooms | 43 | 37 | -14.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 48307 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes decreased by 14%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 52 | 31 | -40.4% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48307, you may be able to get a good deal. 58.1% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in 48307 in November 2024, down by 40.4% month-over-month. Of the 31 sold homes, 58% were sold under asking, 13% were sold at asking, and 29% were sold over asking.
Days on Market for 48307, MI
How long does it take to sell a home in 48307, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 34 Days | +102.9% |
Summary: Homes in 48307 had an average of 34 days on market in Nov 2024, up by 102.9% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48307 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 31 homes were sold in 48307; 61% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 6% 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.