$1,045 Closing Credit*
$88,000
1,755 SqFt
3 Beds
•1 Full Bath
Alnisha Jackson, Listing Office: Keller William Preferred
Is 48602, 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, 48602 has remained a Seller's Market.
Key Takeaway
48602 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48602, MI
How much do homes in 48602, MI cost?
Median Sold Price
$84,933
$66/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$4,933(+6.2%)
Key Takeaway
Homes in 48602 have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in 48602 was $84,933 in November 2024, up 6.2% from last year, and the median price per square foot was $66.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $52K | $50.3K | -3.3% |
| 2 Bedrooms | $65.2K | $70K | +7.2% |
| 3 Bedrooms | $84K | $89.9K | +7.0% |
| 4 Bedrooms | $89.5K | $90K | +0.6% |
| 5+ Bedrooms | $154K | $100K | -35.1% |
Summary: 48602 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 35.1%.
Housing Supply in 48602, MI
How many homes are available in 48602, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 129 | 124 | -3.9% |
Summary: The 48602 real estate market had 124 homes for sale in November 2024, a 3.9% 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 | 31 | 30 | -3.2% |
| 3 Bedrooms | 68 | 58 | -14.7% |
| 4 Bedrooms | 25 | 30 | +20.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 48602 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 3.2%, 3 bedroom homes decreased by 14.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 28 | -20.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48602, you may be able to get a good deal. 46.4% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in 48602 in November 2024, down by 20.0% month-over-month. Of the 28 sold homes, 46% were sold under asking, 18% were sold at asking, and 36% were sold over asking.
Days on Market for 48602, MI
How long does it take to sell a home in 48602, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 25 Days | -35.2% |
Summary: Homes in 48602 had an average of 25 days on market in Nov 2024, down by 35.2% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48602 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 28 homes were sold in 48602; 75% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 11% 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.