$1,128 Closing Credit*
$95,000
713 SqFt
2 Beds
•1 Full Bath
Jessica Stephenson, Listing Office: FIVE STAR REAL ESTATE - MT. PLEASANT
Is 48801, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 48801 was a Seller's Market.
Key Takeaway
48801 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48801, MI
How much do homes in 48801, MI cost?
Median Sold Price
$165,000
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,000(+9.3%)
Key Takeaway
Homes in 48801 have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in 48801 was $165,000 in October 2024, up 9.3% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $50K | N/A |
| 2 Bedrooms | $110K | $125K | +13.6% |
| 3 Bedrooms | $171.8K | $170K | -1.0% |
| 4 Bedrooms | $155K | $213K | +37.4% |
| 5+ Bedrooms | $248K | $397.5K | +60.3% |
Summary: 48801 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 13.6%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 37.4%, and 5+ bedroom homes increased by 60.3%.
Housing Supply in 48801, MI
How many homes are available in 48801, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 51 | +13.3% |
Summary: The 48801 real estate market had 51 homes for sale in October 2024, a 13.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 23 | 24 | +4.3% |
| 4 Bedrooms | 11 | 15 | +36.4% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48801 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48801, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in 48801 in October 2024, down by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 60% were sold at asking, and 0% were sold over asking.
Days on Market for 48801, MI
How long does it take to sell a home in 48801, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 42 Days | 64 Days | +52.7% |
Summary: Homes in 48801 had an average of 64 days on market in Oct 2024, up by 52.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48801 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in 48801; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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. 
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