$3,086 Closing Credit*
$259,900
1,248 SqFt
3 Beds
•2 Full Baths
Ty Zimmerla, Michelle Herrst, 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 November 2023
Since last year, 48418 has remained a Seller's Market.
Key Takeaway
48418 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48418, MI
How much do homes in 48418, MI cost?
Median Sold Price
$275,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$4,000(+1.5%)
Key Takeaway
Homes in 48418 have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in 48418 was $275,000 in November 2024, up 1.5% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $260K | N/A |
| 2 Bedrooms | $173.5K | $222.5K | +28.2% |
| 3 Bedrooms | $266.5K | $280K | +5.1% |
| 4 Bedrooms | $344.3K | $297.7K | -13.5% |
| 5+ Bedrooms | $389K | $265K | -31.9% |
Summary: 48418 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 28.2%, 3 bedroom homes increased by 5.1%, 4 bedroom homes decreased by 13.5%, and 5+ bedroom homes decreased by 31.9%.
Median Sold Price Compared To Nearby Zip Codes
| 48857 | $165.1K | $195.5K | +18.4% |
| 48429 | $159.9K | $163K | +1.9% |
| 48418 | $271K | $275K | +1.5% |
Housing Supply in 48418, MI
How many homes are available in 48418, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Summary: The 48418 real estate market had 12 homes for sale in November 2024, a 7.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48418 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were 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. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 48418 in November 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 6 Days | 34 Days | +456.0% |
Summary: Homes in 48418 had an average of 34 days on market in Nov 2024, up by 456% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 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 November 2024, 4 homes were sold in 48418; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
