$4,143 Closing Credit*
$348,900
1,979 SqFt
3 Beds
•2 Full Baths
The Team Lowe, Listing Office: Real Estate One Harrison
Is 48625, 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, 48625 has remained a Seller's Market.
Key Takeaway
48625 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48625, MI
How much do homes in 48625, MI cost?
Median Sold Price
$120,000
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,500(+17.1%)
Key Takeaway
Homes in 48625 have sold for 17.1% more than they did a year ago.
Summary: The median home sold price in 48625 was $120,000 in October 2024, up 17.1% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $77.9K | +11.4% |
| 2 Bedrooms | $87.4K | $96K | +9.8% |
| 3 Bedrooms | $129.5K | $160K | +23.6% |
| 4 Bedrooms | $159K | $184.4K | +16.0% |
| 5+ Bedrooms | $465K | $244K | -47.5% |
Summary: 48625 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 23.6%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 47.5%.
Housing Supply in 48625, MI
How many homes are available in 48625, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 134 | 131 | -2.2% |
Summary: The 48625 real estate market had 131 homes for sale in October 2024, a 2.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 10 | -16.7% |
| 2 Bedrooms | 56 | 58 | +3.6% |
| 3 Bedrooms | 57 | 53 | -7.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 48625 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 3.6%, 3 bedroom homes decreased by 7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 30 | +11.1% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48625, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in 48625 in October 2024, up by 11.1% month-over-month. Of the 30 sold homes, 83% were sold under asking, 13% were sold at asking, and 3% were sold over asking.
Days on Market for 48625, MI
How long does it take to sell a home in 48625, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 50 Days | 71 Days | +42.1% |
Summary: Homes in 48625 had an average of 71 days on market in Oct 2024, up by 42.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48625 has remained consistent over time.
Summary: During October 2024, 30 homes were sold in 48625; 20% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 33% 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. 
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