$534 Closing Credit*
$45,000
823 SqFt
2 Beds
•1 Full Bath
Kennedy Christensen, Listing Office: Tremaine Real Estate
Is 48532, 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, 48532 was a Seller's Market.
Key Takeaway
48532 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48532, MI
How much do homes in 48532, MI cost?
Median Sold Price
$157,450
$90/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,700(+6.6%)
Key Takeaway
Homes in 48532 have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in 48532 was $157,450 in November 2024, up 6.6% from last year, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $37.5K | - | N/A |
| 2 Bedrooms | $100K | $64K | -36.0% |
| 3 Bedrooms | $149.2K | $157.5K | +5.5% |
| 4 Bedrooms | $202.5K | $239.9K | +18.5% |
| 5+ Bedrooms | $287K | $332.5K | +15.9% |
Summary: 48532 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 decreased by 36%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes increased by 15.9%.
Housing Supply in 48532, MI
How many homes are available in 48532, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 62 | 71 | +14.5% |
Summary: The 48532 real estate market had 71 homes for sale in November 2024, a 14.5% 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 | 17 | 16 | -5.9% |
| 3 Bedrooms | 24 | 35 | +45.8% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 48532 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 5.9%, 3 bedroom homes increased by 45.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48532, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 48532 in November 2024, down by 9.1% month-over-month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% were sold over asking.
Days on Market for 48532, MI
How long does it take to sell a home in 48532, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 48 Days | +43.1% |
Summary: Homes in 48532 had an average of 48 days on market in Nov 2024, up by 43.1% compared to last year.
Breakdown of Home Sale Times
6 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 48532 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in 48532; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
