$1,733 Closing Credit*
$145,900
1,387 SqFt
3 Beds
•2 Full Baths, 1 Partial
Bonnie Valuet, Listing Office: Signature Sothebys International Realty Bham
Is 48341, 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, 48341 has remained a Seller's Market.
Key Takeaway
48341 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48341, MI
How much do homes in 48341, MI cost?
Median Sold Price
$150,000
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$30,000(-16.7%)
Key Takeaway
Homes in 48341 have sold for 16.7% less than they did a year ago.
Summary: The median home sold price in 48341 was $150,000 in November 2024, down 16.7% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $190K | N/A |
| 2 Bedrooms | $127.5K | $110K | -13.7% |
| 3 Bedrooms | $153.5K | $152K | -1.0% |
| 4 Bedrooms | $231.9K | $175K | -24.6% |
| 5+ Bedrooms | $247.7K | $339K | +36.8% |
Summary: 48341 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 decreased by 1%, 4 bedroom homes decreased by 24.6%, and 5+ bedroom homes increased by 36.8%.
Housing Supply in 48341, MI
How many homes are available in 48341, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 61 | 60 | -1.6% |
Summary: The 48341 real estate market had 60 homes for sale in November 2024, a 1.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 35 | 35 | 0.0% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The 48341 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 25%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Asking Price vs. Sold Price
7 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 48341, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 48341 in November 2024, up by 30.8% month-over-month. Of the 17 sold homes, 41% were sold under asking, 6% were sold at asking, and 53% were sold over asking.
Days on Market for 48341, MI
How long does it take to sell a home in 48341, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 26 Days | +69.3% |
Summary: Homes in 48341 had an average of 26 days on market in Nov 2024, up by 69.3% compared to last year.
Breakdown of Home Sale Times
12 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 48341 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in 48341; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 6% 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.