$4,750 Closing Credit*
$400,000
1,620 SqFt
3 Beds
•2 Full Baths
Zaya Shamoieal, Listing Office: DOBI Real Estate
Is 48309, 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, 48309 has remained a Seller's Market.
Key Takeaway
48309 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48309, MI
How much do homes in 48309, MI cost?
Median Sold Price
$431,633
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$6,633(+1.6%)
Key Takeaway
Homes in 48309 have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in 48309 was $431,633 in October 2024, up 1.6% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $239.9K | $229.9K | -4.2% |
| 3 Bedrooms | $355K | $367.5K | +3.5% |
| 4 Bedrooms | $488K | $530K | +8.6% |
| 5+ Bedrooms | $511K | $590K | +15.5% |
Summary: 48309 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 4.2%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 15.5%.
Housing Supply in 48309, MI
How many homes are available in 48309, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 103 | 118 | +14.6% |
Summary: The 48309 real estate market had 118 homes for sale in October 2024, a 14.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 16 | 19 | +18.8% |
| 3 Bedrooms | 43 | 50 | +16.3% |
| 4 Bedrooms | 36 | 42 | +16.7% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The 48309 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 18.8%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 29 | +38.1% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48309, you may be able to get a good deal. 51.7% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in 48309 in October 2024, up by 38.1% month-over-month. Of the 29 sold homes, 52% were sold under asking, 28% were sold at asking, and 21% were sold over asking.
Days on Market for 48309, MI
How long does it take to sell a home in 48309, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 28 Days | +71.4% |
Summary: Homes in 48309 had an average of 28 days on market in Oct 2024, up by 71.4% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48309 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in 48309; 72% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% 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.