$1,305 Closing Credit*
$109,900
856 SqFt
2 Beds
•1 Full Bath
Ryan McNamara, Listing Office: Achieve Real Estate LLC
Is 48906, 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, 48906 has remained a Seller's Market.
Key Takeaway
48906 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48906, MI
How much do homes in 48906, MI cost?
Median Sold Price
$142,000
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+11.8%)
Key Takeaway
Homes in 48906 have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in 48906 was $142,000 in November 2024, up 11.8% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $51.5K | $82.9K | +61.0% |
| 2 Bedrooms | $94.2K | $106K | +12.5% |
| 3 Bedrooms | $158K | $155K | -1.9% |
| 4 Bedrooms | $225.1K | $192K | -14.7% |
| 5+ Bedrooms | $277.5K | $330K | +18.9% |
Summary: 48906 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 14.7%, and 5+ bedroom homes increased by 18.9%.
Housing Supply in 48906, MI
How many homes are available in 48906, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 106 | 115 | +8.5% |
Summary: The 48906 real estate market had 115 homes for sale in November 2024, a 8.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 24 | 27 | +12.5% |
| 3 Bedrooms | 48 | 55 | +14.6% |
| 4 Bedrooms | 24 | 23 | -4.2% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The 48906 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 14.6%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 24 | +20.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48906, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 48906 in November 2024, up by 20.0% month-over-month. Of the 24 sold homes, 42% were sold under asking, 25% were sold at asking, and 33% were sold over asking.
Days on Market for 48906, MI
How long does it take to sell a home in 48906, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 29 Days | +43.3% |
Summary: Homes in 48906 had an average of 29 days on market in Nov 2024, up by 43.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48906 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 24 homes were sold in 48906; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% 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.