$1,888 Closing Credit*
$159,000
935 SqFt
2 Beds
•1 Full Bath
Karen Antal, Listing Office: RE/MAX New Image
Is 48603, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 48603 has remained a Seller's Market.
Key Takeaway
48603 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48603, MI
How much do homes in 48603, MI cost?
Median Sold Price
$223,050
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$6,950(-3.0%)
Key Takeaway
Homes in 48603 have sold for 3% less than they did a year ago.
Summary: The median home sold price in 48603 was $223,050 in October 2024, down 3% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $202K | $224.4K | +11.1% |
| 3 Bedrooms | $193.5K | $195K | +0.8% |
| 4 Bedrooms | $319K | $340K | +6.6% |
| 5+ Bedrooms | $488.8K | $287.5K | -41.2% |
Summary: 48603 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 41.2%.
Housing Supply in 48603, MI
How many homes are available in 48603, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 85 | 95 | +11.8% |
Summary: The 48603 real estate market had 95 homes for sale in October 2024, a 11.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 12 | +20.0% |
| 3 Bedrooms | 43 | 42 | -2.3% |
| 4 Bedrooms | 24 | 33 | +37.5% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The 48603 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48603, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 48603 in October 2024, up by 11.1% month-over-month. Of the 20 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for 48603, MI
How long does it take to sell a home in 48603, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 24 Days | -31.1% |
Summary: Homes in 48603 had an average of 24 days on market in Oct 2024, down by 31.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48603 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 48603; 65% of homes were sold within 30 days, 30% 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.