$1,008 Closing Credit*
$84,900
1,296 SqFt
3 Beds
•2 Full Baths
Matika Smith Fisher, Listing Office: Keller Williams First
Is 48505, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48505 was a Seller's Market.
Key Takeaway
48505 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48505, MI
How much do homes in 48505, MI cost?
Median Sold Price
$26,000
$27/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$2,575(-9.0%)
Key Takeaway
Homes in 48505 have sold for 9% less than they did a year ago.
Summary: The median home sold price in 48505 was $26,000 in November 2024, down 9% from last year, and the median price per square foot was $27.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $14.7K | $10.5K | -28.8% |
| 2 Bedrooms | $20K | $22K | +10.1% |
| 3 Bedrooms | $30K | $29.4K | -1.8% |
| 4 Bedrooms | $35K | $57K | +62.9% |
| 5+ Bedrooms | $35K | $30.5K | -12.9% |
Summary: 48505 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.8%, 2 bedroom homes increased by 10.1%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 62.9%, and 5+ bedroom homes decreased by 12.9%.
Housing Supply in 48505, MI
How many homes are available in 48505, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 83 | +23.9% |
Summary: The 48505 real estate market had 83 homes for sale in November 2024, a 23.9% increase 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 | 23 | 28 | +21.7% |
| 3 Bedrooms | 39 | 49 | +25.6% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48505 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 21.7%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48505, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48505 in November 2024, down by 11.1% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for 48505, MI
How long does it take to sell a home in 48505, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 47 Days | -2.6% |
Summary: Homes in 48505 had an average of 47 days on market in Nov 2024, down by 2.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48505 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in 48505; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.