$5,294 Closing Credit*
$445,805
2,633 SqFt
4 Beds
•2 Full Baths, 1 Partial
Scott Fader, Listing Office: M/I Homes of Michigan, LLC
Is 48386, 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, 48386 has remained a Seller's Market.
Key Takeaway
48386 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48386, MI
How much do homes in 48386, MI cost?
Median Sold Price
$362,500
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$5,960(-1.6%)
Key Takeaway
Homes in 48386 have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in 48386 was $362,500 in October 2024, down 1.6% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $182K | -31.3% |
| 2 Bedrooms | $296K | $301K | +1.7% |
| 3 Bedrooms | $335K | $340K | +1.5% |
| 4 Bedrooms | $420K | $434.9K | +3.5% |
| 5+ Bedrooms | $452.4K | $535K | +18.2% |
Summary: 48386 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.3%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 18.2%.
Housing Supply in 48386, MI
How many homes are available in 48386, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 82 | 88 | +7.3% |
Summary: The 48386 real estate market had 88 homes for sale in October 2024, a 7.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 18 | 17 | -5.6% |
| 3 Bedrooms | 31 | 31 | 0.0% |
| 4 Bedrooms | 26 | 28 | +7.7% |
| 5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The 48386 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 decreased by 5.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 23 | +21.1% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48386, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in 48386 in October 2024, up by 21.1% month-over-month. Of the 23 sold homes, 57% were sold under asking, 9% were sold at asking, and 35% were sold over asking.
Days on Market for 48386, MI
How long does it take to sell a home in 48386, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 30 Days | +12.1% |
Summary: Homes in 48386 had an average of 30 days on market in Oct 2024, up by 12.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48386 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 23 homes were sold in 48386; 57% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
