$416 Closing Credit*
$35,000
640 SqFt
2 Beds
•1 Full Bath
Robert Condie, Listing Office: MBA Real Estate Services
Is 48507, 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, 48507 was a Seller's Market.
Key Takeaway
48507 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48507, MI
How much do homes in 48507, MI cost?
Median Sold Price
$109,670
$80/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,170(+8.0%)
Key Takeaway
Homes in 48507 have sold for 8% more than they did a year ago.
Summary: The median home sold price in 48507 was $109,670 in November 2024, up 8% from last year, and the median price per square foot was $80.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $54K | $18.5K | -65.7% |
| 2 Bedrooms | $55K | $53.7K | -2.3% |
| 3 Bedrooms | $106K | $125K | +17.9% |
| 4 Bedrooms | $156K | $179.9K | +15.3% |
| 5+ Bedrooms | $336.2K | $248.4K | -26.1% |
Summary: 48507 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 65.7%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes decreased by 26.1%.
Housing Supply in 48507, MI
How many homes are available in 48507, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 163 | 142 | -12.9% |
Summary: The 48507 real estate market had 142 homes for sale in November 2024, a 12.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 54 | 46 | -14.8% |
| 3 Bedrooms | 87 | 77 | -11.5% |
| 4 Bedrooms | 17 | 14 | -17.6% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 48507 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 14.8%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 54 | 20 | -63.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48507, you may be able to get a good deal. 55% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 48507 in November 2024, down by 63.0% month-over-month. Of the 20 sold homes, 55% were sold under asking, 35% were sold at asking, and 10% were sold over asking.
Days on Market for 48507, MI
How long does it take to sell a home in 48507, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 22 Days | -35.6% |
Summary: Homes in 48507 had an average of 22 days on market in Nov 2024, down by 35.6% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48507 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 20 homes were sold in 48507; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% 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. 
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.