$3,086 Closing Credit*
$259,900
1,358 SqFt
3 Beds
•1 Full Bath
Lynn Louton, Listing Office: NextHome The Boulevard
Is 48317, 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, 48317 has remained a Seller's Market.
Key Takeaway
48317 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48317, MI
How much do homes in 48317, MI cost?
Median Sold Price
$285,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,000(+11.8%)
Key Takeaway
Homes in 48317 have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in 48317 was $285,000 in October 2024, up 11.8% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $92.3K | $65K | -29.6% |
| 2 Bedrooms | $220K | $235K | +6.8% |
| 3 Bedrooms | $255K | $290K | +13.7% |
| 4 Bedrooms | $351K | $438.5K | +24.9% |
| 5+ Bedrooms | $310K | $340K | +9.7% |
Summary: 48317 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.6%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 24.9%, and 5+ bedroom homes increased by 9.7%.
Housing Supply in 48317, MI
How many homes are available in 48317, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 65 | 62 | -4.6% |
Summary: The 48317 real estate market had 62 homes for sale in October 2024, a 4.6% decrease 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 | 21 | 17 | -19.0% |
| 3 Bedrooms | 28 | 27 | -3.6% |
| 4 Bedrooms | 12 | 15 | +25.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 48317 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 decreased by 19%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48317, you could pay more than the asking price. 45% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in 48317 in October 2024, down by 4.8% month-over-month. Of the 20 sold homes, 30% were sold under asking, 25% were sold at asking, and 45% were sold over asking.
Days on Market for 48317, MI
How long does it take to sell a home in 48317, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 16 Days | -23.0% |
Summary: Homes in 48317 had an average of 16 days on market in Oct 2024, down by 23% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48317 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 48317; 85% of homes were sold within 30 days, 15% 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.