$380 Closing Credit*
$32,000
803 SqFt
2 Beds
•1 Full Bath
Tierra T Howard, Listing Office: Howard Homes 4 You LLC
Is 48504, 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, 48504 has remained a Seller's Market.
Key Takeaway
48504 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48504, MI
How much do homes in 48504, MI cost?
Median Sold Price
$55,333
$42/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,333(+10.7%)
Key Takeaway
Homes in 48504 have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in 48504 was $55,333 in November 2024, up 10.7% from last year, and the median price per square foot was $42.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $35K | $40.5K | +15.7% |
| 3 Bedrooms | $48.5K | $57.5K | +18.7% |
| 4 Bedrooms | $77.4K | $67K | -13.5% |
| 5+ Bedrooms | $110K | $100K | -9.1% |
Summary: 48504 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 15.7%, 3 bedroom homes increased by 18.7%, 4 bedroom homes decreased by 13.5%, and 5+ bedroom homes decreased by 9.1%.
Housing Supply in 48504, MI
How many homes are available in 48504, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 105 | 101 | -3.8% |
Summary: The 48504 real estate market had 101 homes for sale in November 2024, a 3.8% 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 | 26 | 27 | +3.8% |
| 3 Bedrooms | 61 | 62 | +1.6% |
| 4 Bedrooms | 15 | 11 | -26.7% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The 48504 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 increased by 3.8%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 17 | -37.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48504, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 48504 in November 2024, down by 37.0% month-over-month. Of the 17 sold homes, 53% were sold under asking, 35% were sold at asking, and 12% were sold over asking.
Days on Market for 48504, MI
How long does it take to sell a home in 48504, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 48 Days | 44 Days | -8.4% |
Summary: Homes in 48504 had an average of 44 days on market in Nov 2024, down by 8.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48504 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in 48504; 59% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
