Is 48733, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48733 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 48733 has remained a Seller's Market.

Key Takeaway

48733 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 48733, MI

How much do homes in 48733, MI cost?

Median Sold Price

$85,000

$212/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$145,000(-63.0%)

Key Takeaway

Homes in 48733 have sold for 63% less than they did a month ago.

Summary: The median home sold price in 48733 was $85,000 in October 2024, down 63% from last month, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 -$85K
N/A
2 --
N/A
3 --
N/A
4 $230K-
N/A
5+ --
N/A

Summary: 48733 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 did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

48732
-7.5%
48733
-63.0%

Housing Supply in 48733, MI

How many homes are available in 48733, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
43-25.0%

Summary: The 48733 real estate market had 3 homes for sale in October 2024, a 25.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 21
-50.0%
3 01
+100.0%
4 10
-100.0%
5+ 00
0.0%

Summary: The 48733 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 50%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
110.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48733, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in 48733 in October 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for 48733, MI

How long does it take to sell a home in 48733, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
187 Days125 Days-33.2%

Summary: Homes in 48733 had an average of 125 days on market in Oct 2024, down by 33.2% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 48733 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 1 homes were sold in 48733; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 4 Days Ago

Newest Listings in 48733, MI

Nearby Markets to 48733, MI