Is 48732, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48732 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 48732 has remained a Seller's Market.

Key Takeaway

48732 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48732, MI

How much do homes in 48732, MI cost?

Median Sold Price

$185,000

$135/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$15,000(-7.5%)

Key Takeaway

Homes in 48732 have sold for 7.5% less than they did a month ago.

Summary: The median home sold price in 48732 was $185,000 in October 2024, down 7.5% from last month, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $290K$149.9K
-48.3%
3 $199.9K$190K
-5.0%
4 $232.5K-
N/A
5+ --
N/A

Summary: 48732 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 48.3%, 3 bedroom homes decreased by 5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

48732
-7.5%
48706
-22.7%
48733
-63.0%

Housing Supply in 48732, MI

How many homes are available in 48732, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3035+16.7%

Summary: The 48732 real estate market had 35 homes for sale in October 2024, a 16.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 65
-16.7%
3 2027
+35.0%
4 32
-33.3%
5+ 11
0.0%

Summary: The 48732 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 16.7%, 3 bedroom homes increased by 35%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
118-27.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48732, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in 48732 in October 2024, down by 27.3% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for 48732, MI

How long does it take to sell a home in 48732, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
23 Days28 Days+22.6%

Summary: Homes in 48732 had an average of 28 days on market in Oct 2024, up by 22.6% compared to last month.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48732 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in 48732; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in 48732, MI

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