$6,886 Closing Credit*
$579,900
2,996 SqFt
4 Beds
•3 Full Baths, 1 Partial
Carin H. Whybrew, Listing Office: Coldwell Banker Professionals-Okemos
Is 48820, 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, 48820 has remained a Seller's Market.
Key Takeaway
48820 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48820, MI
How much do homes in 48820, MI cost?
Median Sold Price
$365,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$4,000(-1.1%)
Key Takeaway
Homes in 48820 have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in 48820 was $365,000 in November 2024, down 1.1% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $189K | - | N/A |
| 2 Bedrooms | $214.9K | $237.5K | +10.5% |
| 3 Bedrooms | $299.9K | $314.9K | +5.0% |
| 4 Bedrooms | $400K | $405K | +1.3% |
| 5+ Bedrooms | $505K | $500K | -1.0% |
Summary: 48820 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 10.5%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes decreased by 1%.
Housing Supply in 48820, MI
How many homes are available in 48820, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 61 | 54 | -11.5% |
Summary: The 48820 real estate market had 54 homes for sale in November 2024, a 11.5% 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 28 | 23 | -17.9% |
| 4 Bedrooms | 19 | 16 | -15.8% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The 48820 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 increased by 66.7%, 3 bedroom homes decreased by 17.9%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 19 | +18.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48820, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 48820 in November 2024, up by 18.8% month-over-month. Of the 19 sold homes, 42% were sold under asking, 16% were sold at asking, and 42% were sold over asking.
Days on Market for 48820, MI
How long does it take to sell a home in 48820, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 24 Days | +25.2% |
Summary: Homes in 48820 had an average of 24 days on market in Nov 2024, up by 25.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48820 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in 48820; 74% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 5% 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.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.