$2,007 Closing Credit*
$169,000
1,033 SqFt
3 Beds
•1 Full Bath
Timothy M Todd, Timothy Todd, Listing Office: Target Realty Group LLC
Is 48838, 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, 48838 has remained a Seller's Market.
Key Takeaway
48838 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48838, MI
How much do homes in 48838, MI cost?
Median Sold Price
$252,500
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$7,250(+3.0%)
Key Takeaway
Homes in 48838 have sold for 3% more than they did a year ago.
Summary: The median home sold price in 48838 was $252,500 in November 2024, up 3% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $88.9K | $195K | +119.2% |
| 2 Bedrooms | $187K | $170K | -9.1% |
| 3 Bedrooms | $235K | $255K | +8.5% |
| 4 Bedrooms | $289.9K | $299.9K | +3.4% |
| 5+ Bedrooms | $299.5K | $368K | +22.9% |
Summary: 48838 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 119.2%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 22.9%.
Housing Supply in 48838, MI
How many homes are available in 48838, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 65 | 62 | -4.6% |
Summary: The 48838 real estate market had 62 homes for sale in November 2024, a 4.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 22 | 21 | -4.5% |
| 4 Bedrooms | 22 | 20 | -9.1% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The 48838 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 11 | -47.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48838, expect to pay close to the asking price. 63.6% of homes here sold near the asking price last month.
Summary: A total of 11 homes were sold or pending in 48838 in November 2024, down by 47.6% month-over-month. Of the 11 sold homes, 27% were sold under asking, 64% were sold at asking, and 9% were sold over asking.
Days on Market for 48838, MI
How long does it take to sell a home in 48838, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 33 Days | -7.4% |
Summary: Homes in 48838 had an average of 33 days on market in Nov 2024, down by 7.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48838 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in 48838; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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