$2,838 Closing Credit*
$239,000
1,500 SqFt
3 Beds
•2 Full Baths
JEFF KERMATH, Listing Office: KERMATH REALTY LLC
Is 48761, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 48761 has remained a Seller's Market.
Key Takeaway
48761 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48761, MI
How much do homes in 48761, MI cost?
Median Sold Price
$130,000
$147/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$45,000(+52.9%)
Key Takeaway
Homes in 48761 have sold for 52.9% more than they did a month ago.
Summary: The median home sold price in 48761 was $130,000 in October 2024, up 52.9% from last month, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | - | N/A |
| 2 Bedrooms | $161.6K | $101.7K | -37.0% |
| 3 Bedrooms | - | $445K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48761 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 37%, 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
| 48761 | $85K | $130K | +52.9% |
| 48635 | $155K | $155K | 0.0% |
| 48739 | $317K | $206.5K | -34.9% |
Housing Supply in 48761, MI
How many homes are available in 48761, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 13 | -13.3% |
Summary: The 48761 real estate market had 13 homes for sale in October 2024, a 13.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48761 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48761, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 48761 in October 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for 48761, MI
How long does it take to sell a home in 48761, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 Days | 86 Days | +70.4% |
Summary: Homes in 48761 had an average of 86 days on market in Oct 2024, up by 70.4% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48761 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 48761; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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