$1,543 Closing Credit*
$129,900
1,224 SqFt
4 Beds
•2 Full Baths
Stephanie Hall, Listing Office: State Wide Real Estate Mio
Is 48647, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48647 was a Seller's Market.
Key Takeaway
48647 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48647, MI
How much do homes in 48647, MI cost?
Median Sold Price
$115,000
$97/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+15.0%)
Key Takeaway
Homes in 48647 have sold for 15% more than they did a year ago.
Summary: The median home sold price in 48647 was $115,000 in November 2024, up 15% from last year, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $76.7K | -4.1% |
| 2 Bedrooms | $90.4K | $115K | +27.2% |
| 3 Bedrooms | $126.5K | $130K | +2.8% |
| 4 Bedrooms | $152.4K | $208.5K | +36.8% |
| 5+ Bedrooms | - | $266K | N/A |
Summary: 48647 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.1%, 2 bedroom homes increased by 27.2%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 36.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48654 | $144.9K | $225K | +55.2% |
| 48647 | $100K | $115K | +15.0% |
Housing Supply in 48647, MI
How many homes are available in 48647, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 37 | 32 | -13.5% |
Summary: The 48647 real estate market had 32 homes for sale in November 2024, a 13.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 17 | 13 | -23.5% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48647 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 23.5%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 3 | -66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48647, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 48647 in November 2024, down by 66.7% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for 48647, MI
How long does it take to sell a home in 48647, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 42 Days | +110.0% |
Summary: Homes in 48647 had an average of 42 days on market in Nov 2024, up by 110% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48647 has remained consistent over time.
Summary: During November 2024, 3 homes were sold in 48647; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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