$4,334 Closing Credit*
$365,000
2,031 SqFt
5 Beds
•2 Full Baths, 1 Partial
Caroline F D'Andrea, Listing Office: Coldwell Banker Professionals
Is 48461, 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, 48461 has remained a Seller's Market.
Key Takeaway
48461 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48461, MI
How much do homes in 48461, MI cost?
Median Sold Price
$265,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,000(+10.0%)
Key Takeaway
Homes in 48461 have sold for 10% more than they did a year ago.
Summary: The median home sold price in 48461 was $265,000 in October 2024, up 10% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $270K | - | N/A |
| 2 Bedrooms | $180K | $199K | +10.6% |
| 3 Bedrooms | $243K | $262.5K | +8.0% |
| 4 Bedrooms | $225K | $337.5K | +50.0% |
| 5+ Bedrooms | $520K | $340K | -34.6% |
Summary: 48461 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 10.6%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 34.6%.
Median Sold Price Compared To Nearby Zip Codes
| 48421 | $228.5K | $260.5K | +14.0% |
| 48435 | $220K | $250K | +13.6% |
| 48461 | $241K | $265K | +10.0% |
Housing Supply in 48461, MI
How many homes are available in 48461, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 44 | +25.7% |
Summary: The 48461 real estate market had 44 homes for sale in October 2024, a 25.7% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 20 | 30 | +50.0% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 48461 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 increased by 33.3%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 10 | +150.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48461, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 48461 in October 2024, up by 150.0% month-over-month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.
Days on Market for 48461, MI
How long does it take to sell a home in 48461, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 42 Days | +19.7% |
Summary: Homes in 48461 had an average of 42 days on market in Oct 2024, up by 19.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48461 has remained consistent over time.
Summary: During October 2024, 10 homes were sold in 48461; 20% of homes were sold within 30 days, 70% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
