$7,719 Closing Credit*
$650,000
2,696 SqFt
5 Beds
•2 Full Baths, 1 Partial
Peter Costa, Listing Office: Keller Williams Advantage
Is 48374, 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, 48374 has remained a Seller's Market.
Key Takeaway
48374 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48374, MI
How much do homes in 48374, MI cost?
Median Sold Price
$705,000
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$85,000(+13.7%)
Key Takeaway
Homes in 48374 have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in 48374 was $705,000 in October 2024, up 13.7% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $430K | $526.5K | +22.5% |
| 3 Bedrooms | $497.5K | $493K | -0.9% |
| 4 Bedrooms | $665.9K | $750K | +12.6% |
| 5+ Bedrooms | $817.5K | $830K | +1.5% |
Summary: 48374 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 22.5%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 1.5%.
Housing Supply in 48374, MI
How many homes are available in 48374, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 54 | 40 | -25.9% |
Summary: The 48374 real estate market had 40 homes for sale in October 2024, a 25.9% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 17 | 14 | -17.6% |
| 4 Bedrooms | 24 | 18 | -25.0% |
| 5+ Bedrooms | 10 | 4 | -60.0% |
Summary: The 48374 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 33.3%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 60%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 13 | -31.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48374, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 48374 in October 2024, down by 31.6% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for 48374, MI
How long does it take to sell a home in 48374, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 35 Days | +103.5% |
Summary: Homes in 48374 had an average of 35 days on market in Oct 2024, up by 103.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48374 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in 48374; 69% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
