48612 Housing Market Report February 2025•Gladwin County, Michigan

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Housing Prices in 48612, MI

How much do homes in 48612, MI cost?

Housing Market Conditions

Is 48612, 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

48612 is a Buyer's Market

Difference Since February 2024

At the same time last year, 48612 was a Seller's Market.

Insight

48612 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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.
$183,750$142/SqFt
+$31,250
+20.5%

Based on all homes sold in the last 12 months

Insight

Homes in 48612 have sold for 20.5% more than they did a year ago.

Summary: The median home sold price in 48612 was $183,750 in February 2025, up 20.5% from last year, and the median price per square foot was $142.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
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 YoY
48612
+20.5%
48624
+11.6%

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.
BedsFeb 2024Feb 2025Change YoY
1$67K$122.4K
+82.8%
2$98K$135K
+37.8%
3$185K$223.2K
+20.7%
4$392.7K$292.5K
-25.5%
5$485K-
N/A

Summary: 48612 housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +82.8%. The home price for 2 bedroom homes increased by +37.8%. The home price for 3 bedroom homes increased by +20.7%. The home price for 4 bedroom homes decreased by -25.5%. The home price for 5 bedroom homes did not change.

Housing supply in 48612, MI

How many homes are available in 48612, 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
46Last MonthFeb 2025
472 months agoJan 2025
-2.1 %
Change MoMJan – Feb

Summary: The 48612 real estate market had 46 homes for sale in Feb 2025, a 2.1 % decrease compared to Jan 2025.

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
3Last MonthFeb 2025
52 months agoJan 2025
-40.0 %
Change MoMJan – Feb

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.
BedsJan 2025Feb 2025Change MoM
111
0.0%
21211
-8.3%
32626
0.0%
477
0.0%
511
0.0%

Summary: 48612 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -8.3%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 48612, 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 Price1 Home

Under Asking Price1 Home

Insight

If you're buying a home in 48612, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 48612 in February 2025, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and and 33% were sold over asking.

Days on Market for 48612, MI

How long does it take to sell a home in 48612, MI?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days2 Homes

Insight

Most homes in 48612 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2025, 3 homes were sold in 48612; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% 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.
This Year1 year agoChange YoY
105 DaysThis YearFeb 2025
109 Days1 year agoFeb 2024
-3.1 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in 48612 had an average listing age of 105 days in Feb 2025, down by 3.1% compared to the previous year.

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Newest Listings in 48612, MI

What homes are available in 48612, MI?

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MLS Disclaimers and Copyright

Based on information from RealComp II Ltd., MiRealSource Inc. DL, and Northern Great Lakes Realtors MLS for the period 03/01/2023 - 03/01/2025

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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: 3/3/2025, 7:21:00 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Copyright © 2025 Northern Great Lakes REALTORS® MLS™ All Rights Reserved. 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. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/3/2025, 7:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.