$4,275 Closing Credit*
$360,000
3,276 SqFt
3 Beds
•3 Full Baths
Christopher Bailey, Listing Office: Remerica United Realty
Is 48348, 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, 48348 has remained a Seller's Market.
Key Takeaway
48348 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48348, MI
How much do homes in 48348, MI cost?
Median Sold Price
$485,761
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,761(+1.2%)
Key Takeaway
Homes in 48348 have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in 48348 was $485,761 in October 2024, up 1.2% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $290K | N/A |
| 2 Bedrooms | $235K | $392K | +66.8% |
| 3 Bedrooms | $389.9K | $398.9K | +2.3% |
| 4 Bedrooms | $555K | $546.2K | -1.6% |
| 5+ Bedrooms | $602.5K | $736.9K | +22.3% |
Summary: 48348 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 increased by 66.8%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 22.3%.
Housing Supply in 48348, MI
How many homes are available in 48348, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 103 | 81 | -21.4% |
Summary: The 48348 real estate market had 81 homes for sale in October 2024, a 21.4% decrease 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 | 9 | 10 | +11.1% |
| 3 Bedrooms | 36 | 24 | -33.3% |
| 4 Bedrooms | 43 | 31 | -27.9% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The 48348 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 increased by 11.1%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 27.9%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 39 | 20 | -48.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48348, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in 48348 in October 2024, down by 48.7% month-over-month. Of the 20 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.
Days on Market for 48348, MI
How long does it take to sell a home in 48348, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 22 Days | -30.7% |
Summary: Homes in 48348 had an average of 22 days on market in Oct 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48348 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 48348; 65% of homes were sold within 30 days, 35% 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.