$3,716 Closing Credit*
$312,900
2,057 SqFt
2 Beds
•2 Full Baths, 2 Partial
Molly Higbie, Listing Office: RE/MAX Real Estate Professionals
Is 48820, 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, 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
$360,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$9,500(-2.6%)
Key Takeaway
Homes in 48820 have sold for 2.6% less than they did a year ago.
Summary: The median home sold price in 48820 was $360,000 in October 2024, down 2.6% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $208K | $170K | -18.3% |
| 2 Bedrooms | $214.9K | $250K | +16.3% |
| 3 Bedrooms | $303.3K | $296.4K | -2.3% |
| 4 Bedrooms | $405K | $400K | -1.2% |
| 5+ Bedrooms | $507K | $505K | -0.4% |
Summary: 48820 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.3%, 2 bedroom homes increased by 16.3%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes decreased by 0.4%.
Housing Supply in 48820, MI
How many homes are available in 48820, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 59 | 61 | +3.4% |
Summary: The 48820 real estate market had 61 homes for sale in October 2024, a 3.4% increase 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 | 8 | 3 | -62.5% |
| 3 Bedrooms | 23 | 27 | +17.4% |
| 4 Bedrooms | 19 | 19 | 0.0% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The 48820 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 62.5%, 3 bedroom homes increased by 17.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48820, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 48820 in October 2024, down by 26.3% month-over-month. Of the 14 sold homes, 36% were sold under asking, 14% were sold at asking, and 50% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 32 Days | +79.4% |
Summary: Homes in 48820 had an average of 32 days on market in Oct 2024, up by 79.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48820 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 48820; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.