$1,923 Closing Credit*
$161,900
780 SqFt
2 Beds
•1 Full Bath
#50163137, Michael Samborn, Listing Office: All Star Real Estate
Is 48651, 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, 48651 has remained a Seller's Market.
Key Takeaway
48651 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48651, MI
How much do homes in 48651, MI cost?
Median Sold Price
$199,500
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$18,000(+9.9%)
Key Takeaway
Homes in 48651 have sold for 9.9% more than they did a year ago.
Summary: The median home sold price in 48651 was $199,500 in November 2024, up 9.9% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $119K | $61.7K | -48.1% |
| 2 Bedrooms | $143.5K | $140.9K | -1.8% |
| 3 Bedrooms | $235K | $223K | -5.1% |
| 4 Bedrooms | $234.9K | $354.8K | +51.1% |
| 5+ Bedrooms | $132.5K | $422.4K | +218.8% |
Summary: 48651 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.1%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes increased by 51.1%, and 5+ bedroom homes increased by 218.8%.
Housing Supply in 48651, MI
How many homes are available in 48651, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 52 | 51 | -1.9% |
Summary: The 48651 real estate market had 51 homes for sale in November 2024, a 1.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 24 | 16 | -33.3% |
| 3 Bedrooms | 23 | 28 | +21.7% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48651 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48651, you may be able to get a good deal. 69.2% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 48651 in November 2024, down by 6.7% month-over-month. Of the 13 sold homes, 69% were sold under asking, 23% were sold at asking, and 8% were sold over asking.
Days on Market for 48651, MI
How long does it take to sell a home in 48651, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 166 Days | 57 Days | -65.5% |
Summary: Homes in 48651 had an average of 57 days on market in Nov 2024, down by 65.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48651 has remained consistent over time.
Summary: During November 2024, 14 homes were sold in 48651; 7% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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