$249,900
8.00 Acres
Land
Dave Bair, Listing Office: RE/MAX Home Sale Services
Is 48843, 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, 48843 has remained a Seller's Market.
Key Takeaway
48843 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48843, MI
How much do homes in 48843, MI cost?
Median Sold Price
$360,660
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,794(+2.8%)
Key Takeaway
Homes in 48843 have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in 48843 was $360,660 in November 2024, up 2.8% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $119.9K | -46.7% |
| 2 Bedrooms | $235K | $249K | +6.0% |
| 3 Bedrooms | $337.5K | $349.5K | +3.6% |
| 4 Bedrooms | $424.9K | $429.9K | +1.2% |
| 5+ Bedrooms | $490K | $545K | +11.2% |
Summary: 48843 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46.7%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 11.2%.
Housing Supply in 48843, MI
How many homes are available in 48843, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 206 | 196 | -4.9% |
Summary: The 48843 real estate market had 196 homes for sale in November 2024, a 4.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 38 | 40 | +5.3% |
| 3 Bedrooms | 82 | 83 | +1.2% |
| 4 Bedrooms | 63 | 54 | -14.3% |
| 5+ Bedrooms | 22 | 19 | -13.6% |
Summary: The 48843 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 13.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 60 | 44 | -26.7% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48843, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 44 homes were sold or pending in 48843 in November 2024, down by 26.7% month-over-month. Of the 44 sold homes, 50% were sold under asking, 27% were sold at asking, and 23% were sold over asking.
Days on Market for 48843, MI
How long does it take to sell a home in 48843, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 44 Days | +37.9% |
Summary: Homes in 48843 had an average of 44 days on market in Nov 2024, up by 37.9% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48843 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 44 homes were sold in 48843; 50% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.