$3,739 Closing Credit*
$314,900
1,648 SqFt
3 Beds
•1 Full Bath, 1 Partial
Dan Korzeniewski, Listing Office: Stonemark Realtors LLC
Is 48317, 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, 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
$290,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,500(+12.6%)
Key Takeaway
Homes in 48317 have sold for 12.6% more than they did a year ago.
Summary: The median home sold price in 48317 was $290,000 in November 2024, up 12.6% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $152K | $65K | -57.2% |
| 2 Bedrooms | $232.2K | $235K | +1.2% |
| 3 Bedrooms | $255K | $290K | +13.7% |
| 4 Bedrooms | $387.5K | $438.5K | +13.2% |
| 5+ Bedrooms | $310K | $379.9K | +22.6% |
Summary: 48317 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 57.2%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 22.6%.
Housing Supply in 48317, MI
How many homes are available in 48317, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 58 | 52 | -10.3% |
Summary: The 48317 real estate market had 52 homes for sale in November 2024, a 10.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 10 | -37.5% |
| 3 Bedrooms | 26 | 23 | -11.5% |
| 4 Bedrooms | 12 | 15 | +25.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 48317 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 37.5%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 19 | -9.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48317, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 48317 in November 2024, down by 9.5% month-over-month. Of the 19 sold homes, 53% were sold under asking, 16% were sold at asking, and 32% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 25 Days | +31.9% |
Summary: Homes in 48317 had an average of 25 days on market in Nov 2024, up by 31.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 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 November 2024, 19 homes were sold in 48317; 74% of homes were sold within 30 days, 26% 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.