$4,691 Closing Credit*
$395,000
1,784 SqFt
3 Beds
•2 Full Baths
Donna L McFarlane, Listing Office: Oak and Stone Real Estate
Is 48331, 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, 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
$446,333
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$46,333(+11.6%)
Key Takeaway
Homes in 48331 have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in 48331 was $446,333 in October 2024, up 11.6% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $265K | $252K | -4.9% |
| 3 Bedrooms | $390K | $425K | +9.0% |
| 4 Bedrooms | $430K | $500K | +16.3% |
| 5+ Bedrooms | $470K | $622.4K | +32.4% |
Summary: 48331 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.9%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes increased by 32.4%.
Housing Supply in 48331, MI
How many homes are available in 48331, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 69 | 73 | +5.8% |
Summary: The 48331 real estate market had 73 homes for sale in October 2024, a 5.8% increase 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 | 18 | 14 | -22.2% |
| 3 Bedrooms | 17 | 27 | +58.8% |
| 4 Bedrooms | 31 | 28 | -9.7% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 48331 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 22.2%, 3 bedroom homes increased by 58.8%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 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. 35% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 48331 in October 2024, up by 11.1% month-over-month. Of the 20 sold homes, 35% were sold under asking, 30% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 18 Days | +61.4% |
Summary: Homes in 48331 had an average of 18 days on market in Oct 2024, up by 61.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48331 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 48331; 80% of homes were sold within 30 days, 20% 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.