$2,072 Closing Credit*
$174,500
1,433 SqFt
3 Beds
•1 Full Bath, 1 Partial
Tammy Sandin, Listing Office: Bellabay Realty, LLC
Is 48847, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 48847 was a Buyer's 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
$166,100
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$1,100(+0.7%)
Key Takeaway
Homes in 48847 have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in 48847 was $166,100 in November 2024, up 0.7% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $85K | $142.4K | +67.6% |
| 3 Bedrooms | $164.6K | $182K | +10.5% |
| 4 Bedrooms | $192.6K | $165K | -14.3% |
| 5+ Bedrooms | $200K | $192.5K | -3.8% |
Summary: 48847 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 increased by 67.6%, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 3.8%.
Median Sold Price Compared To Nearby Zip Codes
| 48801 | $139.9K | $165K | +17.9% |
| 48847 | $165K | $166.1K | +0.7% |
Housing Supply in 48847, MI
How many homes are available in 48847, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 29 | +3.6% |
Summary: The 48847 real estate market had 29 homes for sale in November 2024, a 3.6% increase 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 48847 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 66.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 6 | -45.5% |
Asking Price vs. Sold Price
2 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, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in 48847 in November 2024, down by 45.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 67% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 65 Days | +80.6% |
Summary: Homes in 48847 had an average of 65 days on market in Nov 2024, up by 80.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 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 November 2024, 6 homes were sold in 48847; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% 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.