$68,900
15.40 Acres
Land
SCOTT LINGO, Listing Office: TARGET REAL ESTATE COMPANY
Is 48740, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 48740 was a Buyer's Market.
Key Takeaway
48740 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48740, MI
How much do homes in 48740, MI cost?
Median Sold Price
$199,900
$122/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$185,100(-48.1%)
Key Takeaway
Homes in 48740 have sold for 48.1% less than they did a month ago.
Summary: The median home sold price in 48740 was $199,900 in November 2024, down 48.1% from last month, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $199.9K | N/A |
| 3 Bedrooms | $385K | $130K | -66.2% |
| 4 Bedrooms | - | $285K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48740 housing prices by bedroom type for November 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 decreased by 66.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 48740, MI
How many homes are available in 48740, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 21 | +16.7% |
Summary: The 48740 real estate market had 21 homes for sale in November 2024, a 16.7% 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 | 7 | +75.0% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 48740 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 75%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48740, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48740 in November 2024, up by 400.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 48740, MI
How long does it take to sell a home in 48740, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 56 Days | 48 Days | -13.4% |
Summary: Homes in 48740 had an average of 48 days on market in Nov 2024, down by 13.4% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48740 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in 48740; 20% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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