$1,722 Closing Credit*
$145,000
1,188 SqFt
3 Beds
•2 Full Baths
#50163419, Virginia McNabb, Listing Office: Town & Country Realty-Lexington
Is 48422, 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, 48422 has remained a Seller's Market.
Key Takeaway
48422 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48422, MI
How much do homes in 48422, MI cost?
Median Sold Price
$175,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$30,000(+20.7%)
Key Takeaway
Homes in 48422 have sold for 20.7% more than they did a year ago.
Summary: The median home sold price in 48422 was $175,000 in November 2024, up 20.7% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $50K | $117K | +134.0% |
| 3 Bedrooms | $145K | $178.7K | +23.3% |
| 4 Bedrooms | $153.4K | $189.9K | +23.8% |
| 5+ Bedrooms | $167.4K | - | N/A |
Summary: 48422 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 134%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes did not change.
Housing Supply in 48422, MI
How many homes are available in 48422, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 31 | 27 | -12.9% |
Summary: The 48422 real estate market had 27 homes for sale in November 2024, a 12.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 18 | 15 | -16.7% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48422 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 decreased by 16.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48422, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 48422 in November 2024, down by 12.5% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for 48422, MI
How long does it take to sell a home in 48422, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 43 Days | 30 Days | -29.9% |
Summary: Homes in 48422 had an average of 30 days on market in Nov 2024, down by 29.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48422 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in 48422; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. 
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