$250,000
38.10 Acres
Land
Cathy A Hoppough, Listing Office: KW Rivertown Hoppough
Is 48834, 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, 48834 has remained a Seller's Market.
Key Takeaway
48834 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48834, MI
How much do homes in 48834, MI cost?
Median Sold Price
$237,500
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$37,500(+18.8%)
Key Takeaway
Homes in 48834 have sold for 18.8% more than they did a year ago.
Summary: The median home sold price in 48834 was $237,500 in November 2024, up 18.8% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $230K | $192.5K | -16.3% |
| 3 Bedrooms | $200K | $270K | +35.0% |
| 4 Bedrooms | - | $240K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 48834 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 decreased by 16.3%, 3 bedroom homes increased by 35%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48834 | $200K | $237.5K | +18.8% |
| 48846 | $185K | $205K | +10.8% |
| 48884 | $235.8K | $218K | -7.6% |
Housing Supply in 48834, MI
How many homes are available in 48834, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Summary: The 48834 real estate market had 8 homes for sale in November 2024, a 33.3% 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 | 6 | 4 | -33.3% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48834 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 decreased by 33.3%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48834, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 48834 in November 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 48834, MI
How long does it take to sell a home in 48834, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 14 Days | 17 Days | +21.4% |
Summary: Homes in 48834 had an average of 17 days on market in Nov 2024, up by 21.4% compared to last year.
Breakdown of Home Sale Times
2 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 48834 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in 48834; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
