$4,155 Closing Credit*
$349,900
1,839 SqFt
3 Beds
•2 Full Baths
Roxanne Fitzpatrick, Steven Fitzpatrick, Listing Office: Remerica Hometown One
Is 48331, 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, 48331 has remained a Seller's Market.
Key Takeaway
48331 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48331, MI
How much do homes in 48331, MI cost?
Median Sold Price
$443,200
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$43,200(+10.8%)
Key Takeaway
Homes in 48331 have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in 48331 was $443,200 in November 2024, up 10.8% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $120K | N/A |
| 2 Bedrooms | $289K | $249.4K | -13.7% |
| 3 Bedrooms | $380K | $425K | +11.8% |
| 4 Bedrooms | $432.5K | $500K | +15.6% |
| 5+ Bedrooms | $470K | $635K | +35.1% |
Summary: 48331 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.7%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 35.1%.
Housing Supply in 48331, MI
How many homes are available in 48331, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 73 | 59 | -19.2% |
Summary: The 48331 real estate market had 59 homes for sale in November 2024, a 19.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 26 | 18 | -30.8% |
| 4 Bedrooms | 27 | 22 | -18.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 48331 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 7.7%, 3 bedroom homes decreased by 30.8%, 4 bedroom homes decreased by 18.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48331, you may be able to get a good deal. 65% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 48331 in November 2024, down by 13.0% month-over-month. Of the 20 sold homes, 65% were sold under asking, 0% were sold at asking, and 35% were sold over asking.
Days on Market for 48331, MI
How long does it take to sell a home in 48331, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 18 Days | 27 Days | +51.6% |
Summary: Homes in 48331 had an average of 27 days on market in Nov 2024, up by 51.6% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48331 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 20 homes were sold in 48331; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% 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.