$950 Closing Credit*
$80,000
688 SqFt
1 Bed
•1 Bath
Michael Thomson, Listing Office: DETRICH REAL ESTATE, L.C.
Is 48647, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 48647 was a Buyer's Market.
Key Takeaway
48647 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48647, MI
How much do homes in 48647, MI cost?
Median Sold Price
$115,000
$95/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+9.5%)
Key Takeaway
Homes in 48647 have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in 48647 was $115,000 in October 2024, up 9.5% from last year, and the median price per square foot was $95.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $76.7K | -4.1% |
| 2 Bedrooms | $97.7K | $105K | +7.5% |
| 3 Bedrooms | $117.9K | $130K | +10.3% |
| 4 Bedrooms | $152.4K | $208.5K | +36.8% |
| 5+ Bedrooms | - | $266K | N/A |
Summary: 48647 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.1%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 36.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48621 | $134K | $192K | +43.3% |
| 48647 | $105K | $115K | +9.5% |
Housing Supply in 48647, MI
How many homes are available in 48647, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 37 | +12.1% |
Summary: The 48647 real estate market had 37 homes for sale in October 2024, a 12.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 14 | 17 | +21.4% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 48647 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 21.4%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 9 | +200.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48647, expect to pay close to the asking price. 55.6% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in 48647 in October 2024, up by 200.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 56% were sold at asking, and 0% were sold over asking.
Days on Market for 48647, MI
How long does it take to sell a home in 48647, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48647 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in 48647; 11% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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