$1,663 Closing Credit*
$140,000
1,007 SqFt
3 Beds
•1 Full Bath
Joshua Landerway, Listing Office: EXP Realty
Is 48831, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 48831 has remained a Seller's Market.
Key Takeaway
48831 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48831, MI
How much do homes in 48831, MI cost?
Median Sold Price
$148,000
$97/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$137,000(-48.1%)
Key Takeaway
Homes in 48831 have sold for 48.1% less than they did a month ago.
Summary: The median home sold price in 48831 was $148,000 in October 2024, down 48.1% from last month, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $319.9K | N/A |
| 3 Bedrooms | $285K | $143.2K | -49.7% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48831 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 49.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48807 | $520K | $2.1M | +303.8% |
| 48831 | $285K | $148K | -48.1% |
| 48649 | $449.9K | $140.4K | -68.8% |
Housing Supply in 48831, MI
How many homes are available in 48831, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Summary: The 48831 real estate market had 10 homes for sale in October 2024, a 9.1% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 9 | 7 | -22.2% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48831 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 increased by 100%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
2 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 48831, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 48831 in October 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for 48831, MI
How long does it take to sell a home in 48831, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 19 Days | +58.9% |
Summary: Homes in 48831 had an average of 19 days on market in Oct 2024, up by 58.9% compared to last month.
Breakdown of Home Sale Times
4 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 48831 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 48831; 80% of homes were sold within 30 days, 20% 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.