$114,900
8.74 Acres
Land
Darin K Elliott, Listing Office: Greenridge Realty (Ionia)
Is 48881, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 48881 has remained a Seller's Market.
Key Takeaway
48881 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48881, MI
How much do homes in 48881, MI cost?
Median Sold Price
$278,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$8,000(-2.8%)
Key Takeaway
Homes in 48881 have sold for 2.8% less than they did a year ago.
Summary: The median home sold price in 48881 was $278,000 in December 2024, down 2.8% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $333.9K | - | N/A |
| 2 Bedrooms | $171K | $175K | +2.3% |
| 3 Bedrooms | $264K | $300K | +13.6% |
| 4 Bedrooms | $375K | $281K | -25.1% |
| 5+ Bedrooms | $307.5K | $509K | +65.5% |
Summary: 48881 housing prices by bedroom type for December 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 13.6%, 4 bedroom homes decreased by 25.1%, and 5+ bedroom homes increased by 65.5%.
Housing Supply in 48881, MI
How many homes are available in 48881, MI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Summary: The 48881 real estate market had 8 homes for sale in December 2024, a 27.3% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 6 | 2 | -66.7% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 48881 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 66.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48881, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 48881 in December 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 48881, MI
How long does it take to sell a home in 48881, MI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 52 Days | 44 Days | -16.5% |
Summary: Homes in 48881 had an average of 44 days on market in Dec 2024, down by 16.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 48881 has remained consistent over time.
Summary: During December 2024, 4 homes were sold in 48881; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
