$2,019 Closing Credit*
$170,000
1,195 SqFt
3 Beds
•1 Full Bath, 1 Partial
Michelle Smith, Listing Office: BOMIC Real Estate
Is 48768, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 48768 has remained a Seller's Market.
Key Takeaway
48768 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48768, MI
How much do homes in 48768, MI cost?
Median Sold Price
$173,000
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,000(+4.8%)
Key Takeaway
Homes in 48768 have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in 48768 was $173,000 in November 2024, up 4.8% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $118K | $152.4K | +29.2% |
| 3 Bedrooms | $167K | $170K | +1.8% |
| 4 Bedrooms | $165K | $267K | +61.8% |
| 5+ Bedrooms | $245K | $155K | -36.7% |
Summary: 48768 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 increased by 29.2%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 61.8%, and 5+ bedroom homes decreased by 36.7%.
Housing Supply in 48768, MI
How many homes are available in 48768, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 | 31 | -8.8% |
Summary: The 48768 real estate market had 31 homes for sale in November 2024, a 8.8% decrease 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 18 | 14 | -22.2% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48768 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 remained the same, 3 bedroom homes decreased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 7 | -41.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48768, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 48768 in November 2024, down by 41.7% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for 48768, MI
How long does it take to sell a home in 48768, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 88 Days | +189.3% |
Summary: Homes in 48768 had an average of 88 days on market in Nov 2024, up by 189.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48768 has remained consistent over time.
Summary: During November 2024, 7 homes were sold in 48768; 14% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.