$3,147 Closing Credit*
$265,000
1,420 SqFt
4 Beds
•2 Full Baths
Chad Willmore, Listing Office: Tall Oaks Realty
Is 48723, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 48723 was a Seller's Market.
Key Takeaway
48723 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48723, MI
How much do homes in 48723, MI cost?
Median Sold Price
$130,000
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$18,500(-12.5%)
Key Takeaway
Homes in 48723 have sold for 12.5% less than they did a year ago.
Summary: The median home sold price in 48723 was $130,000 in October 2024, down 12.5% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $89K | $85K | -4.5% |
| 3 Bedrooms | $152.4K | $155K | +1.7% |
| 4 Bedrooms | $233K | $117.4K | -49.6% |
| 5+ Bedrooms | - | - | N/A |
Summary: 48723 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 49.6%, and 5+ bedroom homes did not change.
Housing Supply in 48723, MI
How many homes are available in 48723, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 28 | -12.5% |
Summary: The 48723 real estate market had 28 homes for sale in October 2024, a 12.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 5 | -44.4% |
| 3 Bedrooms | 14 | 14 | 0.0% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48723 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 44.4%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48723, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 48723 in October 2024, down by 62.5% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 48723, MI
How long does it take to sell a home in 48723, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 6 Days | 24 Days | +284.2% |
Summary: Homes in 48723 had an average of 24 days on market in Oct 2024, up by 284.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48723 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 48723; 67% of homes were sold within 30 days, 33% 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.