$75,000
3.67 Acres
Land
Patti J Warnke, Listing Office: Patti Warnke Real Estate Group
Is 48879, 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, 48879 has remained a Seller's Market.
Key Takeaway
48879 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48879, MI
How much do homes in 48879, MI cost?
Median Sold Price
$245,000
$145/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since November 2023.
Key Takeaway
The sold price of homes in 48879 has remained the same since last year.
Summary: The median home sold price in 48879 was $245,000 in November 2024, the same as last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102.5K | $155K | +51.2% |
| 2 Bedrooms | $162.5K | $182.5K | +12.3% |
| 3 Bedrooms | $245K | $254.5K | +3.9% |
| 4 Bedrooms | $300K | $275K | -8.3% |
| 5+ Bedrooms | $271K | $710K | +162.0% |
Summary: 48879 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 51.2%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 162%.
Housing Supply in 48879, MI
How many homes are available in 48879, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 66 | 67 | +1.5% |
Summary: The 48879 real estate market had 67 homes for sale in November 2024, a 1.5% 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 | 9 | 7 | -22.2% |
| 3 Bedrooms | 37 | 36 | -2.7% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 48879 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 22.2%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 15 | +15.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48879, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 48879 in November 2024, up by 15.4% month-over-month. Of the 15 sold homes, 53% were sold under asking, 27% were sold at asking, and 20% were sold over asking.
Days on Market for 48879, MI
How long does it take to sell a home in 48879, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 18 Days | 16 Days | -8.6% |
Summary: Homes in 48879 had an average of 16 days on market in Nov 2024, down by 8.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48879 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in 48879; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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