$2,968 Closing Credit*
$249,900
1,008 SqFt
3 Beds
•1 Full Bath
#50160229, Remo Petrucci, Listing Office: Century 21 Town & Country-Shelby
Is 48314, 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, 48314 has remained a Seller's Market.
Key Takeaway
48314 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48314, MI
How much do homes in 48314, MI cost?
Median Sold Price
$324,500
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$28,000(+9.4%)
Key Takeaway
Homes in 48314 have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in 48314 was $324,500 in October 2024, up 9.4% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105K | - | N/A |
| 2 Bedrooms | $220K | $239.9K | +9.0% |
| 3 Bedrooms | $285K | $326K | +14.4% |
| 4 Bedrooms | $507.7K | $545K | +7.3% |
| 5+ Bedrooms | $559.9K | $509.9K | -8.9% |
Summary: 48314 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 9%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 8.9%.
Housing Supply in 48314, MI
How many homes are available in 48314, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 53 | 58 | +9.4% |
Summary: The 48314 real estate market had 58 homes for sale in October 2024, a 9.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 14 | 16 | +14.3% |
| 3 Bedrooms | 24 | 25 | +4.2% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 48314 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 14.3%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 23 | +35.3% |
Asking Price vs. Sold Price
9 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 48314, you may be able to get a good deal. 39.1% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in 48314 in October 2024, up by 35.3% month-over-month. Of the 23 sold homes, 39% were sold under asking, 35% were sold at asking, and 26% were sold over asking.
Days on Market for 48314, MI
How long does it take to sell a home in 48314, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 25 Days | +133.1% |
Summary: Homes in 48314 had an average of 25 days on market in Oct 2024, up by 133.1% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48314 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 23 homes were sold in 48314; 65% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 0% 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.