$5,569 Closing Credit*
$469,000
2,639 SqFt
3 Beds
•2 Full Baths, 1 Partial
Amanda Hadous, Listing Office: Real Broker LLC Dearborn Hgts
Is 48324, 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, 48324 has remained a Seller's Market.
Key Takeaway
48324 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48324, MI
How much do homes in 48324, MI cost?
Median Sold Price
$423,700
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$1,300(-0.3%)
Key Takeaway
The sold price of homes in 48324 has remained the same since last year.
Summary: The median home sold price in 48324 was $423,700 in October 2024, down 0.3% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65K | $266.5K | +310.0% |
| 2 Bedrooms | $266K | $212.5K | -20.1% |
| 3 Bedrooms | $357K | $365.2K | +2.3% |
| 4 Bedrooms | $480K | $480K | 0.0% |
| 5+ Bedrooms | $903K | $2.4M | +165.8% |
Summary: 48324 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 310%, 2 bedroom homes decreased by 20.1%, 3 bedroom homes increased by 2.3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 165.8%.
Housing Supply in 48324, MI
How many homes are available in 48324, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 67 | 62 | -7.5% |
Summary: The 48324 real estate market had 62 homes for sale in October 2024, a 7.5% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 26 | 23 | -11.5% |
| 4 Bedrooms | 31 | 27 | -12.9% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The 48324 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 25%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 19 | -5.0% |
Asking Price vs. Sold Price
10 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 48324, 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 48324 in October 2024, down by 5.0% month-over-month. Of the 19 sold homes, 53% were sold under asking, 21% were sold at asking, and 26% were sold over asking.
Days on Market for 48324, MI
How long does it take to sell a home in 48324, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 44 Days | 23 Days | -47.3% |
Summary: Homes in 48324 had an average of 23 days on market in Oct 2024, down by 47.3% 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 48324 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in 48324; 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.