$2,066 Closing Credit*
$174,000
1,250 SqFt
2 Beds
•1 Full Bath
Gary Lee King, Listing Office: LPT Realty LLC
Is 48827, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48827 was a Seller's Market.
Key Takeaway
48827 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 48827, MI
How much do homes in 48827, MI cost?
Median Sold Price
$230,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$28,500(+14.1%)
Key Takeaway
Homes in 48827 have sold for 14.1% more than they did a year ago.
Summary: The median home sold price in 48827 was $230,000 in November 2024, up 14.1% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $55K | -56.0% |
| 2 Bedrooms | $169.9K | $163K | -4.1% |
| 3 Bedrooms | $200K | $228.5K | +14.2% |
| 4 Bedrooms | $250K | $287K | +14.8% |
| 5+ Bedrooms | $345K | $171.7K | -50.2% |
Summary: 48827 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 56%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 50.2%.
Housing Supply in 48827, MI
How many homes are available in 48827, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 62 | 63 | +1.6% |
Summary: The 48827 real estate market had 63 homes for sale in November 2024, a 1.6% increase 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 | 7 | 8 | +14.3% |
| 3 Bedrooms | 31 | 31 | 0.0% |
| 4 Bedrooms | 23 | 21 | -8.7% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The 48827 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 14.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 6 | -60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48827, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 48827 in November 2024, down by 60.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for 48827, MI
How long does it take to sell a home in 48827, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 44 Days | +91.2% |
Summary: Homes in 48827 had an average of 44 days on market in Nov 2024, up by 91.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48827 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in 48827; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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.