$7,707 Closing Credit*
$649,000
4,075 SqFt
4 Beds
•3 Full Baths, 1 Partial
Shelley Pies, Listing Office: Epique Realty
Is 48462, 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, 48462 has remained a Seller's Market.
Key Takeaway
48462 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48462, MI
How much do homes in 48462, MI cost?
Median Sold Price
$375,000
$167/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since November 2023.
Key Takeaway
The sold price of homes in 48462 has remained the same since last year.
Summary: The median home sold price in 48462 was $375,000 in November 2024, the same as last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $118K | $315.9K | +167.7% |
| 2 Bedrooms | $214.7K | $205K | -4.5% |
| 3 Bedrooms | $342.5K | $366.2K | +6.9% |
| 4 Bedrooms | $439.9K | $430K | -2.3% |
| 5+ Bedrooms | $380K | $524.6K | +38.1% |
Summary: 48462 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 167.7%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 38.1%.
Housing Supply in 48462, MI
How many homes are available in 48462, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 50 | 39 | -22.0% |
Summary: The 48462 real estate market had 39 homes for sale in November 2024, a 22.0% 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 | 2 | -50.0% |
| 3 Bedrooms | 26 | 23 | -11.5% |
| 4 Bedrooms | 18 | 11 | -38.9% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48462 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 50%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 38.9%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 11 | -42.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48462, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 48462 in November 2024, down by 42.1% month-over-month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for 48462, MI
How long does it take to sell a home in 48462, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 58 Days | 15 Days | -73.9% |
Summary: Homes in 48462 had an average of 15 days on market in Nov 2024, down by 73.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48462 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in 48462; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
