Is 48473, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48473 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 48473 has remained a Seller's Market.

Key Takeaway

48473 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48473, MI

How much do homes in 48473, MI cost?

Median Sold Price

$241,745

$130/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$22,745(+10.4%)

Key Takeaway

Homes in 48473 have sold for 10.4% more than they did a year ago.

Summary: The median home sold price in 48473 was $241,745 in November 2024, up 10.4% from last year, and the median price per square foot was $130.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $650-
N/A
2 $199.2K$214.4K
+7.7%
3 $209.7K$237K
+13.0%
4 $264.9K$287.4K
+8.5%
5+ $279.9K$341K
+21.8%

Summary: 48473 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 increased by 7.7%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 21.8%.

Median Sold Price Compared To Nearby Zip Codes

48473
+10.4%
48507
+8.0%
48532
+6.6%

Housing Supply in 48473, MI

How many homes are available in 48473, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
10090-10.0%

Summary: The 48473 real estate market had 90 homes for sale in November 2024, a 10.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 85
-37.5%
3 5649
-12.5%
4 3233
+3.1%
5+ 43
-25.0%

Summary: The 48473 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 37.5%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2923-20.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48473, you could pay more than the asking price. 43.5% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in 48473 in November 2024, down by 20.7% month-over-month. Of the 23 sold homes, 22% were sold under asking, 35% were sold at asking, and 43% were sold over asking.

Days on Market for 48473, MI

How long does it take to sell a home in 48473, MI?

Average Sale Time

Nov 2023Nov 2024CHANGE
26 Days38 Days+48.1%

Summary: Homes in 48473 had an average of 38 days on market in Nov 2024, up by 48.1% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48473 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 23 homes were sold in 48473; 61% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in 48473, MI

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