$2,671 Closing Credit*
$224,900
1,470 SqFt
1 Bed
•1 Full Bath, 2 Partial
#50162620, Robin Yost-Ellison, Listing Office: RE/MAX Results
Is 48611, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 48611 was a Seller's Market.
Key Takeaway
48611 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48611, MI
How much do homes in 48611, MI cost?
Median Sold Price
$287,500
$168/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$62,500(+27.8%)
Key Takeaway
Homes in 48611 have sold for 27.8% more than they did a month ago.
Summary: The median home sold price in 48611 was $287,500 in November 2024, up 27.8% from last month, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | - | N/A |
| 3 Bedrooms | $225K | $280K | +24.4% |
| 4 Bedrooms | $250K | $295K | +18.0% |
| 5+ Bedrooms | - | - | N/A |
Summary: 48611 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 24.4%, 4 bedroom homes increased by 18%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48611 | $225K | $287.5K | +27.8% |
| 48634 | $297.5K | $275.2K | -7.5% |
Housing Supply in 48611, MI
How many homes are available in 48611, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 12 | -33.3% |
Summary: The 48611 real estate market had 12 homes for sale in November 2024, a 33.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 8 | 3 | -62.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 48611 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 62.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 2 | -81.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48611, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 48611 in November 2024, down by 81.8% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 48611, MI
How long does it take to sell a home in 48611, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 37 Days | +11.5% |
Summary: Homes in 48611 had an average of 37 days on market in Nov 2024, up by 11.5% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48611 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in 48611; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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.