Is 48236, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 48236 has remained a Seller's Market.
Key Takeaway
48236 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48236, MI
How much do homes in 48236, MI cost?
Median Sold Price
$370,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 48236 have sold for 21.3% more than they did a year ago.
Summary: The median home sold price in 48236 was $370,000 in May 2024, up 21.3% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $23K | - | N/A |
| 2 Bedrooms | $235K | $282.5K | +20.2% |
| 3 Bedrooms | $283K | $322K | +13.8% |
| 4 Bedrooms | $410K | $489.6K | +19.4% |
| 5+ Bedrooms | $708.7K | $860K | +21.3% |
Summary: 48236 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.2%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes increased by 21.3%.
Housing Supply in 48236, MI
How many homes are available in 48236, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 106 | 148 | +39.6% |
Summary: The 48236 real estate market had 148 homes for sale in May 2024, a 39.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 14 | +16.7% |
| 3 Bedrooms | 45 | 61 | +35.6% |
| 4 Bedrooms | 36 | 48 | +33.3% |
| 5+ Bedrooms | 12 | 24 | +100.0% |
Summary: The 48236 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 35.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 53 | +120.8% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48236, you may be able to get a good deal. 41.5% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in 48236 in May 2024, up by 120.8% month-over-month. Of the 53 sold homes, 42% were sold under asking, 23% were sold at asking, and 36% were sold over asking.
Days on Market for 48236, MI
How long does it take to sell a home in 48236, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 20 Days | +0.7% |
Summary: Homes in 48236 had an average of 20 days on market in May 2024, up by 0.7% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48236 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 53 homes were sold in 48236; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.