$399,900
6.25 Acres
Land
Thomas Wilhelm, Angela Morales, Listing Office: Wilhelm & Associates
Is 48350, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48350 was a Neutral Market.
Key Takeaway
48350 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48350, MI
How much do homes in 48350, MI cost?
Median Sold Price
$429,200
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,200(+10.9%)
Key Takeaway
Homes in 48350 have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in 48350 was $429,200 in November 2024, up 10.9% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $1.1M | N/A |
| 2 Bedrooms | $255K | $222.2K | -12.8% |
| 3 Bedrooms | $390.4K | $418.6K | +7.2% |
| 4 Bedrooms | $385.5K | $469.5K | +21.8% |
| 5+ Bedrooms | $585K | $540K | -7.7% |
Summary: 48350 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 12.8%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 21.8%, and 5+ bedroom homes decreased by 7.7%.
Housing Supply in 48350, MI
How many homes are available in 48350, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 26 | -25.7% |
Summary: The 48350 real estate market had 26 homes for sale in November 2024, a 25.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 17 | 13 | -23.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 48350 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 23.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 5 | -58.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48350, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48350 in November 2024, down by 58.3% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 48350, MI
How long does it take to sell a home in 48350, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 42 Days | +20.6% |
Summary: Homes in 48350 had an average of 42 days on market in Nov 2024, up by 20.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48350 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in 48350; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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.