$2,849 Closing Credit*
$239,900
1,946 SqFt
3 Beds
•2 Full Baths
Nancy Fritz, Danielle Manchester, Listing Office: J McLeod Realty Inc
Is 48723, 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, 48723 was a Neutral Market.
Key Takeaway
48723 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48723, MI
How much do homes in 48723, MI cost?
Median Sold Price
$140,000
$102/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$9,000(-6.0%)
Key Takeaway
Homes in 48723 have sold for 6% less than they did a year ago.
Summary: The median home sold price in 48723 was $140,000 in November 2024, down 6% from last year, and the median price per square foot was $102.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $89K | $85K | -4.5% |
| 3 Bedrooms | $152.5K | $160K | +5.0% |
| 4 Bedrooms | $249K | $136.4K | -45.2% |
| 5+ Bedrooms | - | $1.4M | N/A |
Summary: 48723 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 decreased by 4.5%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 45.2%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 32 | +14.3% |
Summary: The 48723 real estate market had 32 homes for sale in November 2024, a 14.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 14 | 14 | 0.0% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48723 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48723, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 48723 in November 2024, up by 166.7% month-over-month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 62 Days | 81 Days | +30.6% |
Summary: Homes in 48723 had an average of 81 days on market in Nov 2024, up by 30.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 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 November 2024, 8 homes were sold in 48723; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
