$1,188 Closing Credit*
$100,000
1,874 SqFt
4 Beds
•2 Full Baths
Melissa L Reed, Listing Office: JPAR - Great Lakes Bay Region
Is 48617, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 48617 has remained a Seller's Market.
Key Takeaway
48617 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48617, MI
How much do homes in 48617, MI cost?
Median Sold Price
$260,000
$130/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$70,000(+36.8%)
Key Takeaway
Homes in 48617 have sold for 36.8% more than they did a month ago.
Summary: The median home sold price in 48617 was $260,000 in November 2024, up 36.8% from last month, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $77.7K | $173.5K | +123.2% |
| 3 Bedrooms | $276.2K | $260K | -5.9% |
| 4 Bedrooms | $190K | $350K | +84.2% |
| 5+ Bedrooms | $247.7K | - | N/A |
Summary: 48617 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 increased by 123.2%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 84.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48617 | $190K | $260K | +36.8% |
| 48618 | $142.5K | $147K | +3.2% |
Housing Supply in 48617, MI
How many homes are available in 48617, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 22 | -12.0% |
Summary: The 48617 real estate market had 22 homes for sale in November 2024, a 12.0% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The 48617 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 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
3 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 48617, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48617 in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for 48617, MI
How long does it take to sell a home in 48617, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 51 Days | 73 Days | +42.3% |
Summary: Homes in 48617 had an average of 73 days on market in Nov 2024, up by 42.3% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48617 has remained consistent over time.
Summary: During November 2024, 5 homes were sold in 48617; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% 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.