$2,256 Closing Credit*
$190,000
1,494 SqFt
3 Beds
•2 Full Baths
Joshua M McCracken, Listing Office: Greenridge Realty (Lowell)
Is 48850, 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, 48850 has remained a Seller's Market.
Key Takeaway
48850 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48850, MI
How much do homes in 48850, MI cost?
Median Sold Price
$206,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$1,000(+0.5%)
Key Takeaway
The sold price of homes in 48850 has remained the same since last year.
Summary: The median home sold price in 48850 was $206,000 in November 2024, up 0.5% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $116.2K | N/A |
| 2 Bedrooms | $184.5K | $150K | -18.7% |
| 3 Bedrooms | $210K | $217K | +3.3% |
| 4 Bedrooms | $215K | $256K | +19.1% |
| 5+ Bedrooms | $380K | $185K | -51.3% |
Summary: 48850 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 decreased by 18.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes decreased by 51.3%.
Median Sold Price Compared To Nearby Zip Codes
| 48888 | $209K | $220.5K | +5.5% |
| 48850 | $205K | $206K | 0.5% |
| 48886 | $210K | $189.9K | -9.6% |
Housing Supply in 48850, MI
How many homes are available in 48850, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Summary: The 48850 real estate market had 10 homes for sale in November 2024, a 33.3% 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 | 5 | 3 | -40.0% |
| 3 Bedrooms | 9 | 6 | -33.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48850 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 decreased by 40%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 48850, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 48850 in November 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 48850, MI
How long does it take to sell a home in 48850, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 95 Days | 16 Days | -82.8% |
Summary: Homes in 48850 had an average of 16 days on market in Nov 2024, down by 82.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48850 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in 48850; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
