$4,452 Closing Credit*
$374,900
1,800 SqFt
4 Beds
•2 Full Baths, 1 Partial
Kase Knochenhauer, Listing Office: Zion REI
Is 48855, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 48855 has remained a Seller's Market.
Key Takeaway
48855 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48855, MI
How much do homes in 48855, MI cost?
Median Sold Price
$359,500
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,500(+7.3%)
Key Takeaway
Homes in 48855 have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in 48855 was $359,500 in October 2024, up 7.3% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | - | N/A |
| 2 Bedrooms | $215K | $220K | +2.3% |
| 3 Bedrooms | $340K | $350K | +2.9% |
| 4 Bedrooms | $375.5K | $450K | +19.8% |
| 5+ Bedrooms | $395K | $550K | +39.2% |
Summary: 48855 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 2.3%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 19.8%, and 5+ bedroom homes increased by 39.2%.
Housing Supply in 48855, MI
How many homes are available in 48855, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 58 | 62 | +6.9% |
Summary: The 48855 real estate market had 62 homes for sale in October 2024, a 6.9% 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 | 7 | 8 | +14.3% |
| 3 Bedrooms | 31 | 32 | +3.2% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The 48855 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 increased by 14.3%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48855, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 48855 in October 2024, down by 12.5% month-over-month. Of the 14 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 48855, MI
How long does it take to sell a home in 48855, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 50 Days | +99.6% |
Summary: Homes in 48855 had an average of 50 days on market in Oct 2024, up by 99.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48855 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 48855; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.