$64,900
0.17 Acres
Land
Tommy McHale, Listing Office: Keller Williams First
Is 48461, 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, 48461 was a Buyer'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
$260,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$25,350(+10.8%)
Key Takeaway
Homes in 48461 have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in 48461 was $260,000 in November 2024, up 10.8% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $270K | - | N/A |
| 2 Bedrooms | $180K | $145K | -19.4% |
| 3 Bedrooms | $215K | $257.5K | +19.8% |
| 4 Bedrooms | $270K | $337.5K | +25.0% |
| 5+ Bedrooms | $520K | $542.5K | +4.3% |
Summary: 48461 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 decreased by 19.4%, 3 bedroom homes increased by 19.8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Zip Codes
| 48421 | $225K | $260K | +15.6% |
| 48461 | $234.6K | $260K | +10.8% |
Housing Supply in 48461, MI
How many homes are available in 48461, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 41 | 36 | -12.2% |
Summary: The 48461 real estate market had 36 homes for sale in November 2024, a 12.2% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 28 | 25 | -10.7% |
| 4 Bedrooms | 8 | 5 | -37.5% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The 48461 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 decreased by 25%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48461, 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 48461 in November 2024, down by 36.4% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 10 Days | 24 Days | +145.7% |
Summary: Homes in 48461 had an average of 24 days on market in Nov 2024, up by 145.7% compared to last year.
Breakdown of Home Sale Times
5 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 48461 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in 48461; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
