$4,749 Closing Credit*
$399,900
3,113 SqFt
5 Beds
•2 Full Baths, 1 Partial
Benjamin DeRosa, Listing Office: Bellabay Realty, LLC
Is 48821, 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, 48821 was a Seller's Market.
Key Takeaway
48821 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 48821, MI
How much do homes in 48821, MI cost?
Median Sold Price
$302,500
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$41,768(+16.0%)
Key Takeaway
Homes in 48821 have sold for 16% more than they did a year ago.
Summary: The median home sold price in 48821 was $302,500 in October 2024, up 16% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $170K | $160.5K | -5.6% |
| 3 Bedrooms | $250K | $286K | +14.4% |
| 4 Bedrooms | $362K | $334.6K | -7.6% |
| 5+ Bedrooms | $410K | $375K | -8.5% |
Summary: 48821 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 decreased by 5.6%, 3 bedroom homes increased by 14.4%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes decreased by 8.5%.
Housing Supply in 48821, MI
How many homes are available in 48821, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 24 | -20.0% |
Summary: The 48821 real estate market had 24 homes for sale in October 2024, a 20.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 16 | 12 | -25.0% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48821 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 4 | -71.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48821, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in 48821 in October 2024, down by 71.4% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.
Days on Market for 48821, MI
How long does it take to sell a home in 48821, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 18 Days | -59.8% |
Summary: Homes in 48821 had an average of 18 days on market in Oct 2024, down by 59.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48821 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 48821; 75% of homes were sold within 30 days, 25% 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.