$1,293 Closing Credit*
$108,900
1,477 SqFt
2 Beds
•1 Full Bath, 1 Partial
Rooted Real Estate Of Greater Lansing, Listing Office: RE/MAX Real Estate Professionals
Is 48911, 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, 48911 has remained a Seller's Market.
Key Takeaway
48911 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48911, MI
How much do homes in 48911, MI cost?
Median Sold Price
$163,166
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$17,500(+12.0%)
Key Takeaway
Homes in 48911 have sold for 12% more than they did a year ago.
Summary: The median home sold price in 48911 was $163,166 in November 2024, up 12% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $53.2K | $75K | +40.8% |
| 2 Bedrooms | $99K | $106K | +7.0% |
| 3 Bedrooms | $150K | $165K | +10.0% |
| 4 Bedrooms | $174.4K | $203K | +16.4% |
| 5+ Bedrooms | $357.5K | $205K | -42.7% |
Summary: 48911 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.8%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 42.7%.
Housing Supply in 48911, MI
How many homes are available in 48911, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 98 | 107 | +9.2% |
Summary: The 48911 real estate market had 107 homes for sale in November 2024, a 9.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 24 | 25 | +4.2% |
| 3 Bedrooms | 54 | 61 | +13.0% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 48911 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 4.2%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 23 | -8.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48911, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in 48911 in November 2024, down by 8.0% month-over-month. Of the 23 sold homes, 22% were sold under asking, 26% were sold at asking, and 52% were sold over asking.
Days on Market for 48911, MI
How long does it take to sell a home in 48911, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 18 Days | -21.3% |
Summary: Homes in 48911 had an average of 18 days on market in Nov 2024, down by 21.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48911 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 23 homes were sold in 48911; 83% of homes were sold within 30 days, 17% 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.