$3,561 Closing Credit*
$299,900
1,493 SqFt
3 Beds
•2 Full Baths
Brent J Link, Crystal Hallack, Listing Office: Five Star Real Estate, Five Star Real Estate - Hart
Is 48640, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$225,000
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,500(+12.2%)
Key Takeaway
Homes in 48640 have sold for 12.2% more than they did a year ago.
Summary: The median home sold price in 48640 was $225,000 in November 2024, up 12.2% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63.5K | - | N/A |
| 2 Bedrooms | $137K | $147.7K | +7.8% |
| 3 Bedrooms | $182K | $200K | +9.9% |
| 4 Bedrooms | $270K | $298.7K | +10.6% |
| 5+ Bedrooms | $369.2K | $395K | +7.0% |
Summary: 48640 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 7%.
Housing Supply in 48640, MI
How many homes are available in 48640, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 61 | 57 | -6.6% |
Summary: The 48640 real estate market had 57 homes for sale in November 2024, a 6.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 29 | 26 | -10.3% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The 48640 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 remained the same, 3 bedroom homes decreased by 10.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 15 | -25.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48640, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 48640 in November 2024, down by 25.0% month-over-month. Of the 15 sold homes, 67% were sold under asking, 7% were sold at asking, and 27% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 57 Days | 24 Days | -58.1% |
Summary: Homes in 48640 had an average of 24 days on market in Nov 2024, down by 58.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48640 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in 48640; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% 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.