Is 48884, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 48884 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 48884 was a Seller's Market.

Key Takeaway

48884 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 48884, MI

How much do homes in 48884, MI cost?

Median Sold Price

$218,000

$137/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$17,875(-7.6%)

Key Takeaway

Homes in 48884 have sold for 7.6% less than they did a year ago.

Summary: The median home sold price in 48884 was $218,000 in November 2024, down 7.6% from last year, and the median price per square foot was $137.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $70K$159.9K
+128.4%
2 $238.3K$159K
-33.3%
3 $235K$218K
-7.2%
4 $250K$300K
+20.0%
5+ $152K$230K
+51.3%

Summary: 48884 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 128.4%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 51.3%.

Median Sold Price Compared To Nearby Zip Codes

48834
+18.8%
48888
+5.5%
48884
-7.6%

Housing Supply in 48884, MI

How many homes are available in 48884, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1416+14.3%

Summary: The 48884 real estate market had 16 homes for sale in November 2024, a 14.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 1111
0.0%
4 12
+100.0%
5+ 00
0.0%

Summary: The 48884 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 increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
110.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 48884, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in 48884 in November 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for 48884, MI

How long does it take to sell a home in 48884, MI?

Average Sale Time

Nov 2023Nov 2024CHANGE
20 Days5 Days-75.6%

Summary: Homes in 48884 had an average of 5 days on market in Nov 2024, down by 75.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 48884 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 1 homes were sold in 48884; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

Newest Listings in 48884, MI

Nearby Markets to 48884, MI