$1,663 Closing Credit*
$140,000
1,395 SqFt
4 Beds
•1 Full Bath, 1 Partial
Karina Gonzalez, Listing Office: KW Professionals
Is 48340, 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, 48340 has remained a Seller's Market.
Key Takeaway
48340 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48340, MI
How much do homes in 48340, MI cost?
Median Sold Price
$140,000
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,800(+9.2%)
Key Takeaway
Homes in 48340 have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in 48340 was $140,000 in October 2024, up 9.2% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $255K | +45.7% |
| 2 Bedrooms | $96K | $108.9K | +13.5% |
| 3 Bedrooms | $127.4K | $150K | +17.7% |
| 4 Bedrooms | $267.9K | $270K | +0.8% |
| 5+ Bedrooms | $268.2K | $307K | +14.4% |
Summary: 48340 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.7%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 17.7%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 14.4%.
Housing Supply in 48340, MI
How many homes are available in 48340, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 44 | -12.0% |
Summary: The 48340 real estate market had 44 homes for sale in October 2024, a 12.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 19 | 16 | -15.8% |
| 3 Bedrooms | 23 | 23 | 0.0% |
| 4 Bedrooms | 7 | 4 | -42.9% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48340 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 15.8%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48340, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 48340 in October 2024, down by 12.5% month-over-month. Of the 14 sold homes, 29% were sold under asking, 7% were sold at asking, and 64% were sold over asking.
Days on Market for 48340, MI
How long does it take to sell a home in 48340, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 20 Days | +22.7% |
Summary: Homes in 48340 had an average of 20 days on market in Oct 2024, up by 22.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48340 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 48340; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% 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.