$25,000
1.50 Acres
Land
GREG MORRIS, Listing Office: MORRIS-RICHARDSON RE
Is 48661, 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, 48661 has remained a Seller's Market.
Key Takeaway
48661 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48661, MI
How much do homes in 48661, MI cost?
Median Sold Price
$193,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,500(+11.2%)
Key Takeaway
Homes in 48661 have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in 48661 was $193,000 in October 2024, up 11.2% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $120K | -4.0% |
| 2 Bedrooms | $127.9K | $138.5K | +8.2% |
| 3 Bedrooms | $205K | $229.9K | +12.1% |
| 4 Bedrooms | $257.5K | $305K | +18.4% |
| 5+ Bedrooms | $250K | $332K | +32.8% |
Summary: 48661 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes increased by 32.8%.
Housing Supply in 48661, MI
How many homes are available in 48661, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 65 | 67 | +3.1% |
Summary: The 48661 real estate market had 67 homes for sale in October 2024, a 3.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 29 | 34 | +17.2% |
| 4 Bedrooms | 16 | 14 | -12.5% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The 48661 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 17.2%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48661, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 48661 in October 2024, up by 8.3% month-over-month. Of the 13 sold homes, 77% were sold under asking, 8% were sold at asking, and 15% were sold over asking.
Days on Market for 48661, MI
How long does it take to sell a home in 48661, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 81 Days | 97 Days | +19.1% |
Summary: Homes in 48661 had an average of 97 days on market in Oct 2024, up by 19.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48661 has remained consistent over time.
Summary: During October 2024, 13 homes were sold in 48661; 0% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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