$2,731 Closing Credit*
$230,000
2,340 SqFt
4 Beds
•3 Full Baths
Selina R Wells, Listing Office: Real Broker LLC
Is 48848, 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, 48848 has remained a Seller's Market.
Key Takeaway
48848 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48848, MI
How much do homes in 48848, MI cost?
Median Sold Price
$270,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,000(+8.0%)
Key Takeaway
Homes in 48848 have sold for 8% more than they did a year ago.
Summary: The median home sold price in 48848 was $270,000 in November 2024, up 8% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $205K | $247.4K | +20.7% |
| 3 Bedrooms | $250K | $242.5K | -3.0% |
| 4 Bedrooms | $395.8K | $346.5K | -12.5% |
| 5+ Bedrooms | $856K | $317.5K | -62.9% |
Summary: 48848 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 20.7%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 62.9%.
Housing Supply in 48848, MI
How many homes are available in 48848, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 21 | -16.0% |
Summary: The 48848 real estate market had 21 homes for sale in November 2024, a 16.0% decrease 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The 48848 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48848, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 48848 in November 2024, the same as the previous month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 48848, MI
How long does it take to sell a home in 48848, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 21 Days | -27.5% |
Summary: Homes in 48848 had an average of 21 days on market in Nov 2024, down by 27.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48848 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in 48848; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.