$938 Closing Credit*
$79,000
1,722 SqFt
3 Beds
•1 Full Bath
#50162141, Michael Meehleder, Listing Office: Ayre/Rhinehart Bay REALTORS
Is 48708, 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, 48708 was a Seller's Market.
Key Takeaway
48708 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48708, MI
How much do homes in 48708, MI cost?
Median Sold Price
$128,000
$93/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,000(+6.7%)
Key Takeaway
Homes in 48708 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 48708 was $128,000 in November 2024, up 6.7% from last year, and the median price per square foot was $93.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $67.8K | N/A |
| 2 Bedrooms | $75K | $117.2K | +56.3% |
| 3 Bedrooms | $125K | $129K | +3.2% |
| 4 Bedrooms | $124.9K | $128.5K | +2.9% |
| 5+ Bedrooms | $122.4K | $115K | -6.1% |
Summary: 48708 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 56.3%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 6.1%.
Housing Supply in 48708, MI
How many homes are available in 48708, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 101 | 98 | -3.0% |
Summary: The 48708 real estate market had 98 homes for sale in November 2024, a 3.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 21 | 18 | -14.3% |
| 3 Bedrooms | 48 | 45 | -6.3% |
| 4 Bedrooms | 19 | 28 | +47.4% |
| 5+ Bedrooms | 12 | 7 | -41.7% |
Summary: The 48708 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 47.4%, and 5+ bedroom homes decreased by 41.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 16 | -54.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48708, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 48708 in November 2024, down by 54.3% month-over-month. Of the 16 sold homes, 63% were sold under asking, 19% were sold at asking, and 19% were sold over asking.
Days on Market for 48708, MI
How long does it take to sell a home in 48708, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 47 Days | 29 Days | -38.6% |
Summary: Homes in 48708 had an average of 29 days on market in Nov 2024, down by 38.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48708 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 16 homes were sold in 48708; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. 
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