$3,977 Closing Credit*
$334,900
1,334 SqFt
3 Beds
•1 Full Bath, 1 Partial
Kristin E Wengren, Listing Office: Real Estate One-Ortonville
Is 48462, 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, 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
$380,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,000(+3.5%)
Key Takeaway
Homes in 48462 have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in 48462 was $380,000 in October 2024, up 3.5% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $118K | $315.9K | +167.7% |
| 2 Bedrooms | $180.5K | $200K | +10.8% |
| 3 Bedrooms | $336.5K | $375K | +11.4% |
| 4 Bedrooms | $420K | $448K | +6.7% |
| 5+ Bedrooms | $380K | $496.9K | +30.8% |
Summary: 48462 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 167.7%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 30.8%.
Housing Supply in 48462, MI
How many homes are available in 48462, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 49 | +8.9% |
Summary: The 48462 real estate market had 49 homes for sale in October 2024, a 8.9% 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 | 6 | 5 | -16.7% |
| 3 Bedrooms | 23 | 25 | +8.7% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48462 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 16.7%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 18 | +80.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48462, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 18 homes were sold or pending in 48462 in October 2024, up by 80.0% month-over-month. Of the 18 sold homes, 33% were sold under asking, 44% were sold at asking, and 22% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 69 Days | +130.9% |
Summary: Homes in 48462 had an average of 69 days on market in Oct 2024, up by 130.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 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 October 2024, 18 homes were sold in 48462; 56% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.