$889 Closing Credit*
$74,900
1,054 SqFt
3 Beds
•1 Full Bath, 1 Partial
Hailey Kuchar, Listing Office: NextHome Inspire
Is 48503, 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, 48503 has remained a Seller's Market.
Key Takeaway
48503 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48503, MI
How much do homes in 48503, MI cost?
Median Sold Price
$75,000
$55/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$2,500(+3.4%)
Key Takeaway
Homes in 48503 have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in 48503 was $75,000 in November 2024, up 3.4% from last year, and the median price per square foot was $55.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $21.7K | $31.5K | +44.8% |
| 2 Bedrooms | $43.5K | $42K | -3.4% |
| 3 Bedrooms | $85K | $86.5K | +1.8% |
| 4 Bedrooms | $92.5K | $125K | +35.1% |
| 5+ Bedrooms | $209K | $98.5K | -52.9% |
Summary: 48503 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.8%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 35.1%, and 5+ bedroom homes decreased by 52.9%.
Housing Supply in 48503, MI
How many homes are available in 48503, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 124 | 132 | +6.5% |
Summary: The 48503 real estate market had 132 homes for sale in November 2024, a 6.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 38 | 43 | +13.2% |
| 3 Bedrooms | 65 | 68 | +4.6% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The 48503 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 4.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 23 | +21.1% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48503, you may be able to get a good deal. 65.2% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in 48503 in November 2024, up by 21.1% month-over-month. Of the 23 sold homes, 65% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for 48503, MI
How long does it take to sell a home in 48503, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 50 Days | +12.3% |
Summary: Homes in 48503 had an average of 50 days on market in Nov 2024, up by 12.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48503 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 23 homes were sold in 48503; 61% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
