$7,066 Closing Credit*
$595,000
210 SqFt
2 Beds
•2 Full Baths, 1 Partial
Bernard Shamow, Listing Office: EXP Realty LLC
Is 48359, 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, 48359 has remained a Seller's Market.
Key Takeaway
48359 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48359, MI
How much do homes in 48359, MI cost?
Median Sold Price
$419,500
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,510(+4.9%)
Key Takeaway
Homes in 48359 have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in 48359 was $419,500 in October 2024, up 4.9% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $230K | $269.7K | +17.3% |
| 3 Bedrooms | $390K | $378K | -3.1% |
| 4 Bedrooms | $480K | $495K | +3.1% |
| 5+ Bedrooms | $590K | $685.5K | +16.2% |
Summary: 48359 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 17.3%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 16.2%.
Housing Supply in 48359, MI
How many homes are available in 48359, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 35 | -5.4% |
Summary: The 48359 real estate market had 35 homes for sale in October 2024, a 5.4% 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 | 7 | 5 | -28.6% |
| 3 Bedrooms | 17 | 18 | +5.9% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 48359 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 28.6%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 9 | -30.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48359, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 48359 in October 2024, down by 30.8% month-over-month. Of the 9 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for 48359, MI
How long does it take to sell a home in 48359, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 28 Days | +30.8% |
Summary: Homes in 48359 had an average of 28 days on market in Oct 2024, up by 30.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48359 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in 48359; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
