48048 Housing Market Report December 2024•Macomb County, Michigan

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Housing Prices in 48048, MI

How much do homes in 48048, MI cost?

Housing Market Conditions

Is 48048, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

48048 is a Seller's Market

Difference Since November 2024

Last month, 48048 was a Neutral Market.

Insight

48048 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$290,500$146/SqFt
-$52,509
-15.3%

Based on all homes sold in December 2024

Insight

Homes in 48048 have sold for 15.3% less than they did a month ago.

Summary: The median home sold price in 48048 was $290,500 in December 2024, down 15.3% from last month, and the median price per square foot was $146.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange MoM
48096
+23.3%
48048
-15.3%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsNov 2024Dec 2024Change MoM
1--
N/A
2--
N/A
3$329.9K$258K
-21.8%
4$414.5K$302K
-27.2%
5--
N/A

Summary: 48048 housing price by bedroom type for December 2024, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes decreased by -21.8%. The home price for 4 bedroom homes decreased by -27.2%. The home price for 5 bedroom homes did not change.

Housing supply in 48048, MI

How many homes are available in 48048, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
31Last MonthDec 2024
322 months agoNov 2024
-3.1 %
Change MoMNov – Dec

Summary: The 48048 real estate market had 31 homes for sale in Dec 2024, a 3.1 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
6Last MonthDec 2024
52 months agoNov 2024
+20.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
100
0.0%
200
0.0%
31919
0.0%
4119
-18.2%
523
+50.0%

Summary: 48048 housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes decreased by -18.2%. The inventory for 5 bedroom homes increased by +50.0%.

Asking Price vs. Sold Price

How much do homes in 48048, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price3 Homes

Under Asking Price2 Homes

Insight

If you're buying a home in 48048, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in 48048 in December 2024, up by 20.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and and 17% were sold over asking.

Days on Market for 48048, MI

How long does it take to sell a home in 48048, MI?

Breakdown of Home Sale Times

Under 30 Days3 Homes

30 – 90 Days2 Homes

Over 90 Days1 Home

Insight

Many homes in 48048 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 6 homes were sold in 48048; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
44 DaysLast MonthDec 2024
117 Days1 month agoNov 2024
-62.4 %
Change MoMNov – Dec

Summary: Homes in 48048 had an average listing age of 44 days in Dec 2024, down by 62.4% compared to the previous month.

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Newest Listings in 48048, MI

What homes are available in 48048, MI?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from RealComp II Ltd., and MiRealSource Inc. DL for the period 11/01/2024 - 01/01/2025

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Last updated on: 2/1/2025, 2:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/1/2025, 2:21:16 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.