$1,780 Closing Credit*
$149,900
1,000 SqFt
2 Beds
•1 Full Bath
Douglas F Ferrell, Listing Office: Realty Executives Main St LLC
Is 48463, 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, 48463 has remained a Seller's Market.
Key Takeaway
48463 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48463, MI
How much do homes in 48463, MI cost?
Median Sold Price
$177,500
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$22,500(-11.3%)
Key Takeaway
Homes in 48463 have sold for 11.2% less than they did a year ago.
Summary: The median home sold price in 48463 was $177,500 in October 2024, down 11.3% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | - | N/A |
| 2 Bedrooms | $114.5K | $146K | +27.5% |
| 3 Bedrooms | $182.8K | $194K | +6.1% |
| 4 Bedrooms | $220K | $348.3K | +58.3% |
| 5+ Bedrooms | $423K | $392.4K | -7.2% |
Summary: 48463 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 27.5%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 58.3%, and 5+ bedroom homes decreased by 7.2%.
Housing Supply in 48463, MI
How many homes are available in 48463, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Summary: The 48463 real estate market had 11 homes for sale in October 2024, a 10.0% 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 | 1 | -66.7% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48463 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 66.7%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48463, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 48463 in October 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 48463, MI
How long does it take to sell a home in 48463, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 62 Days | +346.4% |
Summary: Homes in 48463 had an average of 62 days on market in Oct 2024, up by 346.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48463 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in 48463; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
