$5,106 Closing Credit*
$430,000
1,856 SqFt
3 Beds
•3 Full Baths
Amy Bassett, Listing Office: The Brokerage Real Estate Enthusiasts
Is 48383, 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, 48383 has remained a Seller's Market.
Key Takeaway
48383 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48383, MI
How much do homes in 48383, MI cost?
Median Sold Price
$435,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$42,500(+10.8%)
Key Takeaway
Homes in 48383 have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in 48383 was $435,000 in October 2024, up 10.8% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | - | N/A |
| 2 Bedrooms | $174.7K | $205K | +17.3% |
| 3 Bedrooms | $321.2K | $393K | +22.3% |
| 4 Bedrooms | $440.5K | $506K | +14.9% |
| 5+ Bedrooms | $470K | $470K | 0.0% |
Summary: 48383 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 increased by 22.3%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes did not change.
Housing Supply in 48383, MI
How many homes are available in 48383, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 42 | +13.5% |
Summary: The 48383 real estate market had 42 homes for sale in October 2024, a 13.5% increase 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 18 | 20 | +11.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48383 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 50%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 14 | +55.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48383, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 48383 in October 2024, up by 55.6% month-over-month. Of the 14 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for 48383, MI
How long does it take to sell a home in 48383, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 21 Days | +11.9% |
Summary: Homes in 48383 had an average of 21 days on market in Oct 2024, up by 11.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48383 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 48383; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
