$4,214 Closing Credit*
$354,900
3,292 SqFt
4 Beds
•2 Full Baths, 1 Partial
Paul S Derby, Listing Office: NextHome Reality
Is 48842, 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, 48842 has remained a Seller's Market.
Key Takeaway
48842 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48842, MI
How much do homes in 48842, MI cost?
Median Sold Price
$265,000
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,000(+1.9%)
Key Takeaway
Homes in 48842 have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in 48842 was $265,000 in November 2024, up 1.9% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $19K | $126K | +563.2% |
| 2 Bedrooms | $153K | $168.1K | +9.9% |
| 3 Bedrooms | $259.9K | $255.5K | -1.7% |
| 4 Bedrooms | $316.2K | $320K | +1.2% |
| 5+ Bedrooms | $342K | $380K | +11.1% |
Summary: 48842 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 563.2%, 2 bedroom homes increased by 9.9%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 11.1%.
Housing Supply in 48842, MI
How many homes are available in 48842, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 52 | 67 | +28.8% |
Summary: The 48842 real estate market had 67 homes for sale in November 2024, a 28.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 4 | 9 | +125.0% |
| 3 Bedrooms | 25 | 33 | +32.0% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 48842 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 125%, 3 bedroom homes increased by 32%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 19 | +90.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48842, you may be able to get a good deal. 36.8% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 48842 in November 2024, up by 90.0% month-over-month. Of the 19 sold homes, 37% were sold under asking, 26% were sold at asking, and 37% were sold over asking.
Days on Market for 48842, MI
How long does it take to sell a home in 48842, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 23 Days | -14.8% |
Summary: Homes in 48842 had an average of 23 days on market in Nov 2024, down by 14.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48842 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in 48842; 63% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. 
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