$45,000
0.97 Acres
Land
Corey Welch, Listing Office: eXp Realty LLC in Monroe
Is 49228, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 49228 has remained a Seller's Market.
Key Takeaway
49228 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49228, MI
How much do homes in 49228, MI cost?
Median Sold Price
$181,625
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$6,625(+3.8%)
Key Takeaway
Homes in 49228 have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in 49228 was $181,625 in October 2024, up 3.8% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | $109K | +45.3% |
| 2 Bedrooms | $126.4K | $134.5K | +6.4% |
| 3 Bedrooms | $185K | $195K | +5.4% |
| 4 Bedrooms | $234.5K | $210K | -10.4% |
| 5+ Bedrooms | $202.5K | $307.4K | +51.8% |
Summary: 49228 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.3%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 10.4%, and 5+ bedroom homes increased by 51.8%.
Median Sold Price Compared To Nearby Zip Codes
| 49228 | $175K | $181.6K | +3.8% |
| 49238 | $182K | $165K | -9.3% |
Housing Supply in 49228, MI
How many homes are available in 49228, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 15 | -21.1% |
Summary: The 49228 real estate market had 15 homes for sale in October 2024, a 21.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 7 | 4 | -42.9% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 49228 housing inventory by bedroom type for October 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 12.5%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 49228, 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 49228 in October 2024, down by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 49228, MI
How long does it take to sell a home in 49228, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 73 Days | +107.0% |
Summary: Homes in 49228 had an average of 73 days on market in Oct 2024, up by 107% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49228 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 49228; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
