$1,662 Closing Credit*
$139,999
745 SqFt
2 Beds
•1 Full Bath
Gladiz C Solarte, Listing Office: National Realty Centers, Inc
Is 48340, 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, 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
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,600(+9.9%)
Key Takeaway
Homes in 48340 have sold for 9.9% more than they did a year ago.
Summary: The median home sold price in 48340 was $140,000 in November 2024, up 9.9% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $255K | +45.7% |
| 2 Bedrooms | $96K | $115K | +19.8% |
| 3 Bedrooms | $133K | $150K | +12.8% |
| 4 Bedrooms | $255K | $265K | +3.9% |
| 5+ Bedrooms | $276.4K | $307K | +11.0% |
Summary: 48340 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.7%, 2 bedroom homes increased by 19.8%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 11%.
Housing Supply in 48340, MI
How many homes are available in 48340, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 40 | 45 | +12.5% |
Summary: The 48340 real estate market had 45 homes for sale in November 2024, a 12.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 13 | 15 | +15.4% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48340 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 increased by 15.4%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 11 | -31.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48340, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 48340 in November 2024, down by 31.3% month-over-month. Of the 11 sold homes, 73% were sold under asking, 0% were sold at asking, and 27% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 49 Days | +173.9% |
Summary: Homes in 48340 had an average of 49 days on market in Nov 2024, up by 173.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 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 November 2024, 11 homes were sold in 48340; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 9% 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.