$3,561 Closing Credit*
$299,900
1,718 SqFt
3 Beds
•2 Full Baths
Travis Blaine Conti, Listing Office: RE/MAX Real Estate Professionals
Is 48864, 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, 48864 has remained a Seller's Market.
Key Takeaway
48864 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48864, MI
How much do homes in 48864, MI cost?
Median Sold Price
$383,500
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$33,500(+9.6%)
Key Takeaway
Homes in 48864 have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in 48864 was $383,500 in November 2024, up 9.6% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $46.5K | $197.4K | +324.6% |
| 2 Bedrooms | $130K | $215K | +65.4% |
| 3 Bedrooms | $300K | $329.9K | +10.0% |
| 4 Bedrooms | $437.5K | $427.5K | -2.3% |
| 5+ Bedrooms | $543K | $568.5K | +4.7% |
Summary: 48864 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 324.6%, 2 bedroom homes increased by 65.4%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 4.7%.
Housing Supply in 48864, MI
How many homes are available in 48864, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 74 | 72 | -2.7% |
Summary: The 48864 real estate market had 72 homes for sale in November 2024, a 2.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 23 | 22 | -4.3% |
| 4 Bedrooms | 23 | 22 | -4.3% |
| 5+ Bedrooms | 18 | 18 | 0.0% |
Summary: The 48864 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48864, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 48864 in November 2024, down by 11.8% month-over-month. Of the 15 sold homes, 40% were sold under asking, 33% were sold at asking, and 27% were sold over asking.
Days on Market for 48864, MI
How long does it take to sell a home in 48864, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 89 Days | 51 Days | -42.5% |
Summary: Homes in 48864 had an average of 51 days on market in Nov 2024, down by 42.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48864 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in 48864; 53% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 20% 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.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.