$399,999
11.80 Acres
Land
•1 Full Bath
Chyna Slade, Listing Office: Berkshire Hathaway Michigan
Is 48438, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48438 was a Seller's Market.
Key Takeaway
48438 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48438, MI
How much do homes in 48438, MI cost?
Median Sold Price
$339,950
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$14,950(+4.6%)
Key Takeaway
Homes in 48438 have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in 48438 was $339,950 in November 2024, up 4.6% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $235K | $243K | +3.4% |
| 3 Bedrooms | $290.9K | $307.5K | +5.7% |
| 4 Bedrooms | $416.2K | $415K | -0.3% |
| 5+ Bedrooms | $389K | $475K | +22.1% |
Summary: 48438 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 3.4%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 22.1%.
Housing Supply in 48438, MI
How many homes are available in 48438, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 35 | +9.4% |
Summary: The 48438 real estate market had 35 homes for sale in November 2024, a 9.4% increase 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 19 | 21 | +10.5% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 48438 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 increased by 100%, 3 bedroom homes increased by 10.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48438, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48438 in November 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for 48438, MI
How long does it take to sell a home in 48438, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 9 Days | 66 Days | +633.3% |
Summary: Homes in 48438 had an average of 66 days on market in Nov 2024, up by 633.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48438 has remained consistent over time.
Summary: During November 2024, 5 homes were sold in 48438; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% 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.