$653 Closing Credit*
$55,000
1,638 SqFt
2 Beds
•1 Full Bath
Renaud Huettig, Listing Office: Keller Williams of NM Signature Group
Is 48847, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 48847 was a Neutral Market.
Key Takeaway
48847 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48847, MI
How much do homes in 48847, MI cost?
Median Sold Price
$165,000
$114/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since October 2023.
Key Takeaway
The sold price of homes in 48847 has remained the same since last year.
Summary: The median home sold price in 48847 was $165,000 in October 2024, the same as last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $85K | $130K | +52.9% |
| 3 Bedrooms | $164.6K | $176.5K | +7.2% |
| 4 Bedrooms | $178.2K | $165K | -7.4% |
| 5+ Bedrooms | $235K | - | N/A |
Summary: 48847 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 52.9%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 48801 | $151K | $165K | +9.3% |
| 48847 | $165K | $165K | 0.0% |
Housing Supply in 48847, MI
How many homes are available in 48847, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 26 | +36.8% |
Summary: The 48847 real estate market had 26 homes for sale in October 2024, a 36.8% increase 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 10 | 15 | +50.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 48847 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 11 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48847, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 48847 in October 2024, up by 100.0% month-over-month. Of the 10 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for 48847, MI
How long does it take to sell a home in 48847, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 53 Days | 98 Days | +84.2% |
Summary: Homes in 48847 had an average of 98 days on market in Oct 2024, up by 84.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48847 has remained consistent over time.
Summary: During October 2024, 11 homes were sold in 48847; 9% of homes were sold within 30 days, 82% of homes were sold within 30 to 90 days, and 9% 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.