$6,472 Closing Credit*
$545,000
2,488 SqFt
4 Beds
•2 Full Baths, 2 Partial
Christina Gennari, Listing Office: KW Domain
Is 48371, 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, 48371 has remained a Seller's Market.
Key Takeaway
48371 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48371, MI
How much do homes in 48371, MI cost?
Median Sold Price
$414,133
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,655(+8.6%)
Key Takeaway
Homes in 48371 have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in 48371 was $414,133 in October 2024, up 8.6% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $111K | $122.2K | +10.1% |
| 2 Bedrooms | $241K | $215K | -10.8% |
| 3 Bedrooms | $334.9K | $365K | +9.0% |
| 4 Bedrooms | $447.5K | $490K | +9.5% |
| 5+ Bedrooms | $522.5K | $620K | +18.7% |
Summary: 48371 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.1%, 2 bedroom homes decreased by 10.8%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 18.7%.
Housing Supply in 48371, MI
How many homes are available in 48371, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 94 | 94 | 0.0% |
Summary: The 48371 real estate market had 94 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 43 | 45 | +4.7% |
| 4 Bedrooms | 37 | 32 | -13.5% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The 48371 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 13.5%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 26 | -7.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48371, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 48371 in October 2024, down by 7.1% month-over-month. Of the 26 sold homes, 42% were sold under asking, 12% were sold at asking, and 46% were sold over asking.
Days on Market for 48371, MI
How long does it take to sell a home in 48371, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 42 Days | 27 Days | -36.3% |
Summary: Homes in 48371 had an average of 27 days on market in Oct 2024, down by 36.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48371 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 26 homes were sold in 48371; 65% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 4% 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.