Is 48322, 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, 48322 has remained a Seller's Market.
Housing Prices in 48322, MI
How much do homes in 48322, MI cost?
Median Sold Price
$365,000
$175/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Summary: The median home sold price in 48322 was $365,000 in May 2024, the same as last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.5K | $93.6K | +7.0% |
2 Bedrooms | $265K | $258.7K | -2.4% |
3 Bedrooms | $342.3K | $347K | +1.4% |
4 Bedrooms | $435K | $464K | +6.7% |
5+ Bedrooms | $625K | $695K | +11.2% |
Summary: 48322 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 11.2%.
Housing Supply in 48322, MI
How many homes are available in 48322, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
95 | 95 | 0.0% |
Summary: The 48322 real estate market had 95 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 3 | -40.0% |
2 Bedrooms | 29 | 22 | -24.1% |
3 Bedrooms | 25 | 25 | 0.0% |
4 Bedrooms | 32 | 35 | +9.4% |
5+ Bedrooms | 4 | 10 | +150.0% |
Summary: The 48322 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 24.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 33 | +13.8% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in 48322 in May 2024, up by 13.8% month-over-month. Of the 33 sold homes, 45% were sold under asking, 6% were sold at asking, and 48% were sold over asking.
Days on Market for 48322, MI
How long does it take to sell a home in 48322, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
33 Days | 13 Days | -59.4% |
Summary: Homes in 48322 had an average of 13 days on market in May 2024, down by 59.4% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 33 homes were sold in 48322; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.