$2,838 Closing Credit*
$239,000
600 SqFt
1 Bed
•1 Full Bath
Angela Farrington, Listing Office: KW Northern Michigan Team Partners
Is 48653, 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, 48653 has remained a Seller's Market.
Key Takeaway
48653 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48653, MI
How much do homes in 48653, MI cost?
Median Sold Price
$191,500
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,500(+6.4%)
Key Takeaway
Homes in 48653 have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in 48653 was $191,500 in October 2024, up 6.4% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $92.5K | $142K | +53.5% |
| 2 Bedrooms | $159.4K | $158.7K | -0.4% |
| 3 Bedrooms | $198.2K | $226.5K | +14.2% |
| 4 Bedrooms | $265K | $370K | +39.6% |
| 5+ Bedrooms | $830K | $652.5K | -21.4% |
Summary: 48653 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.5%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 39.6%, and 5+ bedroom homes decreased by 21.4%.
Housing Supply in 48653, MI
How many homes are available in 48653, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 109 | 106 | -2.8% |
Summary: The 48653 real estate market had 106 homes for sale in October 2024, a 2.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 35 | 36 | +2.9% |
| 3 Bedrooms | 48 | 43 | -10.4% |
| 4 Bedrooms | 15 | 17 | +13.3% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The 48653 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 2.9%, 3 bedroom homes decreased by 10.4%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48653, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 48653 in October 2024, down by 13.0% month-over-month. Of the 20 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.
Days on Market for 48653, MI
How long does it take to sell a home in 48653, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 83 Days | 65 Days | -22.4% |
Summary: Homes in 48653 had an average of 65 days on market in Oct 2024, down by 22.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48653 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 48653; 10% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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