$6,104 Closing Credit*
$513,990
1,794 SqFt
2 Beds
•2 Full Baths
Heather S Shaffer, Listing Office: PH Relocation Services LLC
Is 48315, 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, 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
$408,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$37,500(-8.4%)
Key Takeaway
Homes in 48315 have sold for 8.4% less than they did a year ago.
Summary: The median home sold price in 48315 was $408,000 in October 2024, down 8.4% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $239K | N/A |
| 2 Bedrooms | $240K | $252.5K | +5.2% |
| 3 Bedrooms | $401.7K | $430K | +7.0% |
| 4 Bedrooms | $609.2K | $551.2K | -9.5% |
| 5+ Bedrooms | $659K | $661K | 0.3% |
Summary: 48315 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 5.2%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 0.3%.
Housing Supply in 48315, MI
How many homes are available in 48315, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 95 | 116 | +22.1% |
Summary: The 48315 real estate market had 116 homes for sale in October 2024, a 22.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 36 | 45 | +25.0% |
| 3 Bedrooms | 31 | 36 | +16.1% |
| 4 Bedrooms | 26 | 32 | +23.1% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48315 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 25%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 26 | +23.8% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48315, you may be able to get a good deal. 65.4% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in 48315 in October 2024, up by 23.8% month-over-month. Of the 26 sold homes, 65% were sold under asking, 15% were sold at asking, and 19% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 44 Days | 33 Days | -25.0% |
Summary: Homes in 48315 had an average of 33 days on market in Oct 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
14 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 48315 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 26 homes were sold in 48315; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% 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.