$3,086 Closing Credit*
$259,900
1,248 SqFt
3 Beds
•2 Full Baths
Ty Zimmerla, Listing Office: RE/MAX Platinum
Is 48418, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 48418 was a Seller's Market.
Key Takeaway
48418 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48418, MI
How much do homes in 48418, MI cost?
Median Sold Price
$277,500
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$25,000(-8.3%)
Key Takeaway
Homes in 48418 have sold for 8.3% less than they did a year ago.
Summary: The median home sold price in 48418 was $277,500 in October 2024, down 8.3% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | $252K | +44.0% |
| 3 Bedrooms | $300K | $280K | -6.7% |
| 4 Bedrooms | $378.5K | $300K | -20.8% |
| 5+ Bedrooms | $395K | $265K | -32.9% |
Summary: 48418 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 44%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 20.8%, and 5+ bedroom homes decreased by 32.9%.
Median Sold Price Compared To Nearby Zip Codes
| 48857 | $169.9K | $180K | +5.9% |
| 48436 | $244.4K | $255K | +4.3% |
| 48429 | $160K | $165K | +3.1% |
| 48418 | $302.5K | $277.5K | -8.3% |
Housing Supply in 48418, MI
How many homes are available in 48418, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Summary: The 48418 real estate market had 15 homes for sale in October 2024, a 7.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48418 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 remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48418, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 48418 in October 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 48418, MI
How long does it take to sell a home in 48418, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 7 Days | -68.5% |
Summary: Homes in 48418 had an average of 7 days on market in Oct 2024, down by 68.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48418 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in 48418; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
