Is 48312, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48312 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 48312 has remained a Seller's Market.

Key Takeaway

48312 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48312, MI

How much do homes in 48312, MI cost?

Median Sold Price

$290,000

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,000(+3.6%)

Key Takeaway

Homes in 48312 have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in 48312 was $290,000 in October 2024, up 3.6% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $89.4K$90.2K
+0.8%
2 $170K$209.7K
+23.4%
3 $281K$300K
+6.8%
4 $325K$357.5K
+10.0%
5+ $387.7K$327.5K
-15.5%

Summary: 48312 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes increased by 23.4%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 15.5%.

Median Sold Price Compared To Nearby Zip Codes

48313
+11.1%
48310
+4.9%
48088
+4.1%
48312
+3.6%
48026
-1.1%

Housing Supply in 48312, MI

How many homes are available in 48312, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
113131+15.9%

Summary: The 48312 real estate market had 131 homes for sale in October 2024, a 15.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 42
-50.0%
2 3132
+3.2%
3 5371
+34.0%
4 2423
-4.2%
5+ 13
+200.0%

Summary: The 48312 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 34%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2745+66.7%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48312, you may be able to get a good deal. 48.9% of homes here sold below asking price last month.

Summary: A total of 45 homes were sold or pending in 48312 in October 2024, up by 66.7% month-over-month. Of the 45 sold homes, 49% were sold under asking, 18% were sold at asking, and 33% were sold over asking.

Days on Market for 48312, MI

How long does it take to sell a home in 48312, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
12 Days28 Days+132.3%

Summary: Homes in 48312 had an average of 28 days on market in Oct 2024, up by 132.3% compared to last year.

Breakdown of Home Sale Times

31 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48312 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 45 homes were sold in 48312; 69% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in 48312, MI

Nearby Markets to 48312, MI