$3,788 Closing Credit*
$319,000
1,862 SqFt
4 Beds
•1 Full Bath, 1 Partial
#50161031, Christine Morley, Listing Office: Ayre/Rhinehart-Midland
Is 48640, 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, 48640 has remained a Seller's Market.
Key Takeaway
48640 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48640, MI
How much do homes in 48640, MI cost?
Median Sold Price
$221,500
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,500(+11.9%)
Key Takeaway
Homes in 48640 have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in 48640 was $221,500 in October 2024, up 11.9% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63.5K | - | N/A |
| 2 Bedrooms | $140K | $146.5K | +4.6% |
| 3 Bedrooms | $182K | $195K | +7.1% |
| 4 Bedrooms | $275K | $293K | +6.5% |
| 5+ Bedrooms | $377.5K | $379.9K | +0.6% |
Summary: 48640 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 4.6%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 0.6%.
Housing Supply in 48640, MI
How many homes are available in 48640, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 62 | 66 | +6.5% |
Summary: The 48640 real estate market had 66 homes for sale in October 2024, a 6.5% 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 | 5 | 7 | +40.0% |
| 3 Bedrooms | 34 | 30 | -11.8% |
| 4 Bedrooms | 15 | 20 | +33.3% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The 48640 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 40%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48640, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 48640 in October 2024, up by 21.4% month-over-month. Of the 17 sold homes, 53% were sold under asking, 18% were sold at asking, and 29% were sold over asking.
Days on Market for 48640, MI
How long does it take to sell a home in 48640, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 47 Days | 14 Days | -69.6% |
Summary: Homes in 48640 had an average of 14 days on market in Oct 2024, down by 69.6% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48640 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in 48640; 82% of homes were sold within 30 days, 18% 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.