$2,945 Closing Credit*
$248,000
1,320 SqFt
2 Beds
•2 Full Baths
#50162209, Ken Lipowski, Listing Office: RE/MAX First
Is 48315, 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, 48315 has remained a Seller's Market.
Key Takeaway
48315 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48315, MI
How much do homes in 48315, MI cost?
Median Sold Price
$397,850
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$44,650(-10.1%)
Key Takeaway
Homes in 48315 have sold for 10.1% less than they did a year ago.
Summary: The median home sold price in 48315 was $397,850 in November 2024, down 10.1% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $239K | N/A |
| 2 Bedrooms | $248.7K | $251K | +0.9% |
| 3 Bedrooms | $401.7K | $430K | +7.0% |
| 4 Bedrooms | $608.7K | $551.2K | -9.4% |
| 5+ Bedrooms | $674.9K | $645.5K | -4.4% |
Summary: 48315 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes decreased by 4.4%.
Housing Supply in 48315, MI
How many homes are available in 48315, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 103 | 101 | -1.9% |
Summary: The 48315 real estate market had 101 homes for sale in November 2024, a 1.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 41 | 40 | -2.4% |
| 3 Bedrooms | 30 | 22 | -26.7% |
| 4 Bedrooms | 29 | 37 | +27.6% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 48315 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 2.4%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes increased by 27.6%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 18 | -33.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48315, you may be able to get a good deal. 61.1% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 48315 in November 2024, down by 33.3% month-over-month. Of the 18 sold homes, 61% were sold under asking, 17% were sold at asking, and 22% were sold over asking.
Days on Market for 48315, MI
How long does it take to sell a home in 48315, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 65 Days | 37 Days | -42.4% |
Summary: Homes in 48315 had an average of 37 days on market in Nov 2024, down by 42.4% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48315 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 18 homes were sold in 48315; 61% of homes were sold within 30 days, 28% 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.