Is 48322, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48322 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 48322 has remained a Seller's Market.

Key Takeaway

48322 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48322, MI

How much do homes in 48322, MI cost?

Median Sold Price

$380,000

$145/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$17,333(+4.8%)

Key Takeaway

Homes in 48322 have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in 48322 was $380,000 in December 2024, up 4.8% from last year, and the median price per square foot was $145.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $87.2K$107.5K
+23.3%
2 $250K$265K
+6.0%
3 $328.5K$350K
+6.5%
4 $448K$500K
+11.6%
5+ $625K$675K
+8.0%

Summary: 48322 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.3%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 8%.

Median Sold Price Compared To Nearby Zip Codes

48331
+8.5%
48301
+8.5%
48322
+4.8%
48334
+1.5%
48323
0.1%

Housing Supply in 48322, MI

How many homes are available in 48322, MI?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
123107-13.0%

Summary: The 48322 real estate market had 107 homes for sale in December 2024, a 13.0% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 31
-66.7%
2 3028
-6.7%
3 3936
-7.7%
4 4033
-17.5%
5+ 119
-18.2%

Summary: The 48322 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 17.5%, and 5+ bedroom homes decreased by 18.2%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
3331-6.1%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48322, you may be able to get a good deal. 64.5% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in 48322 in December 2024, down by 6.1% month-over-month. Of the 31 sold homes, 65% were sold under asking, 6% were sold at asking, and 29% were sold over asking.

Days on Market for 48322, MI

How long does it take to sell a home in 48322, MI?

Average Sale Time

Dec 2023Dec 2024CHANGE
28 Days39 Days+38.9%

Summary: Homes in 48322 had an average of 39 days on market in Dec 2024, up by 38.9% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48322 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 31 homes were sold in 48322; 65% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in 48322, MI

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