$2,968 Closing Credit*
$249,900
2,202 SqFt
4 Beds
•2 Full Baths
Morgan Beilfuss, Listing Office: The Home Office Realty LLC
Is 48817, 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, 48817 has remained a Seller's Market.
Key Takeaway
48817 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48817, MI
How much do homes in 48817, MI cost?
Median Sold Price
$186,000
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,100(+8.2%)
Key Takeaway
Homes in 48817 have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in 48817 was $186,000 in October 2024, up 8.2% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $82K | +17.1% |
| 2 Bedrooms | $114.9K | $136K | +18.4% |
| 3 Bedrooms | $170.9K | $182.5K | +6.8% |
| 4 Bedrooms | $364.9K | $203.5K | -44.2% |
| 5+ Bedrooms | $210K | $346.5K | +65.0% |
Summary: 48817 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 44.2%, and 5+ bedroom homes increased by 65%.
Housing Supply in 48817, MI
How many homes are available in 48817, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 15 | -37.5% |
Summary: The 48817 real estate market had 15 homes for sale in October 2024, a 37.5% 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 | 3 | -40.0% |
| 3 Bedrooms | 16 | 7 | -56.3% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48817 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 decreased by 40%, 3 bedroom homes decreased by 56.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 3 | -72.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48817, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 48817 in October 2024, down by 72.7% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for 48817, MI
How long does it take to sell a home in 48817, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 48 Days | 7 Days | -85.5% |
Summary: Homes in 48817 had an average of 7 days on market in Oct 2024, down by 85.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48817 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 48817; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.