$2,719 Closing Credit*
$229,000
1,406 SqFt
4 Beds
•2 Full Baths
Rachel M Opperman, Listing Office: Knockout 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 October 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
$170,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+3.0%)
Key Takeaway
Homes in 48768 have sold for 3% more than they did a year ago.
Summary: The median home sold price in 48768 was $170,000 in October 2024, up 3% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $106.4K | $152.4K | +43.2% |
| 3 Bedrooms | $167K | $170K | +1.8% |
| 4 Bedrooms | $165K | $264K | +60.0% |
| 5+ Bedrooms | $166.4K | $200K | +20.2% |
Summary: 48768 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 43.2%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 20.2%.
Housing Supply in 48768, MI
How many homes are available in 48768, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 37 | -17.8% |
Summary: The 48768 real estate market had 37 homes for sale in October 2024, a 17.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 26 | 19 | -26.9% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 48768 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 increased by 40%, 3 bedroom homes decreased by 26.9%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Asking Price vs. Sold Price
8 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. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 48768 in October 2024, up by 22.2% month-over-month. Of the 11 sold homes, 73% were sold under asking, 18% were sold at asking, and 9% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 70 Days | 45 Days | -35.7% |
Summary: Homes in 48768 had an average of 45 days on market in Oct 2024, down by 35.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48768 has remained consistent over time.
Summary: During October 2024, 11 homes were sold in 48768; 36% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 9% 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.