$2,494 Closing Credit*
$210,000
1,378 SqFt
3 Beds
•1 Full Bath, 1 Partial
Donald Covert, Listing Office: The Brokerage Real Estate Enthusiasts
Is 48457, 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, 48457 has remained a Seller's Market.
Key Takeaway
48457 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48457, MI
How much do homes in 48457, MI cost?
Median Sold Price
$166,500
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$15,999(-8.8%)
Key Takeaway
Homes in 48457 have sold for 8.8% less than they did a year ago.
Summary: The median home sold price in 48457 was $166,500 in October 2024, down 8.8% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | - | N/A |
| 2 Bedrooms | $110K | $138K | +25.5% |
| 3 Bedrooms | $172K | $179.5K | +4.4% |
| 4 Bedrooms | $252.5K | $245K | -3.0% |
| 5+ Bedrooms | $159.1K | $247.5K | +55.5% |
Summary: 48457 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 25.5%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 55.5%.
Housing Supply in 48457, MI
How many homes are available in 48457, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Summary: The 48457 real estate market had 23 homes for sale in October 2024, a 9.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48457 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48457, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 48457 in October 2024, up by 100.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 48457, MI
How long does it take to sell a home in 48457, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 15 Days | -12.4% |
Summary: Homes in 48457 had an average of 15 days on market in Oct 2024, down by 12.4% compared to last year.
Breakdown of Home Sale Times
4 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 48457 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in 48457; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
