$1,780 Closing Credit*
$149,900
800 SqFt
2 Beds
•1 Full Bath
BRENT CHURCH, Listing Office: MORRIS-RICHARDSON RE
Is 48656, 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, 48656 has remained a Seller's Market.
Key Takeaway
48656 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48656, MI
How much do homes in 48656, MI cost?
Median Sold Price
$130,000
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,750(+17.9%)
Key Takeaway
Homes in 48656 have sold for 17.9% more than they did a year ago.
Summary: The median home sold price in 48656 was $130,000 in October 2024, up 17.9% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $73.5K | $65K | -11.6% |
| 2 Bedrooms | $98.2K | $111.5K | +13.5% |
| 3 Bedrooms | $132.5K | $165K | +24.5% |
| 4 Bedrooms | $185K | $262K | +41.6% |
| 5+ Bedrooms | - | $245K | N/A |
Summary: 48656 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.6%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 24.5%, 4 bedroom homes increased by 41.6%, and 5+ bedroom homes did not change.
Housing Supply in 48656, MI
How many homes are available in 48656, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 54 | 50 | -7.4% |
Summary: The 48656 real estate market had 50 homes for sale in October 2024, a 7.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 15 | 13 | -13.3% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48656 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 13.3%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48656, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 48656 in October 2024, the same as the previous month. Of the 10 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for 48656, MI
How long does it take to sell a home in 48656, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 50 Days | 57 Days | +15.3% |
Summary: Homes in 48656 had an average of 57 days on market in Oct 2024, up by 15.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48656 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in 48656; 10% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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