$4,453 Closing Credit*
$375,000
1,803 SqFt
2 Beds
•2 Full Baths
Cheryl F Riback, Listing Office: @properties Christies Intl R.E. Birmingham
Is 48334, 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, 48334 has remained a Seller's Market.
Key Takeaway
48334 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48334, MI
How much do homes in 48334, MI cost?
Median Sold Price
$338,500
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$13,500(+4.2%)
Key Takeaway
Homes in 48334 have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in 48334 was $338,500 in November 2024, up 4.2% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $107.9K | $123K | +14.0% |
| 2 Bedrooms | $175K | $180K | +2.9% |
| 3 Bedrooms | $317.5K | $335K | +5.5% |
| 4 Bedrooms | $400K | $405K | +1.3% |
| 5+ Bedrooms | $372K | $454.5K | +22.2% |
Summary: 48334 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 22.2%.
Housing Supply in 48334, MI
How many homes are available in 48334, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 56 | 55 | -1.8% |
Summary: The 48334 real estate market had 55 homes for sale in November 2024, a 1.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 12 | 9 | -25.0% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 26 | 25 | -3.8% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48334 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 27.3%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 16 | -27.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48334, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 48334 in November 2024, down by 27.3% month-over-month. Of the 16 sold homes, 50% were sold under asking, 6% were sold at asking, and 44% were sold over asking.
Days on Market for 48334, MI
How long does it take to sell a home in 48334, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 20 Days | -5.2% |
Summary: Homes in 48334 had an average of 20 days on market in Nov 2024, down by 5.2% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48334 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 16 homes were sold in 48334; 81% of homes were sold within 30 days, 19% 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.