48220 Home Values & Market Trends
There are 45 homes currently listed for 48220. 48220 real estate market trends show that home prices range from $89,000 to $459,900, and the median sales price in the 48220 zip code is $245,534.43. The total number of properties sold within the past twelve months is 541. In 48220, 5 properties are in foreclosure, 1 are bank owned properties,and 4 are headed for auction.
48220 Real Estate Market Overview
| City | Median Est. Value |
|---|---|
| Ferndale | $ 209,900 $ 193/sqft |
Housing Market Summary for 48220
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $230K | $239.8K | 4.26% |
| Median Sold Price | $222.7K | $239.8K | 7.70% |
| Homes For Sale | 29 | 46 | 58.62% |
| Homes Sold | 288 | 263 | -8.68% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in 48220
Browse Homes in 48220
The median list price of a home in Ferndale, is $245,534.43. A total of 45 properties are for sale, and the percentage of properties for sale in the zip code is 45.00%. The total count of 48220 properties is 9,751.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in 48220 with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single city. There is 1 cities within 48220; of that cities, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in 48220 ranges from the highest value of $178,829 in ferndale to the lowest value of $178,829 in ferndale. Bank owned homes and properties account for 0.01% of properties in 48220. There is 1 cities within 48220; ferndale containing 1 REO properties, has the highest number of bank owned properties in a single city.
- Auctionsferndale has 4 auction properties, the highest number of properties going to auction in a single city in the state of 48220. Auction homes and other auction properties account for 0.04% of all properties in 48220. There is 1 cities within 48220; of that cities, the median estimated home value for homes going to auction ranges from $265,000 in ferndale to the lowest value of $212,142 in ferndale.
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Guide for 48220
Explore the nuances of Michigan’s 2023 real estate market, where rising property values meet shifting sold prices and distressed properties offer investment opportunities amidst a stable yet competitive landscape.
Lansing’s real estate market has seen substantial growth in home values and sales prices from April 2023 to March 2024, positioning the city as an attractive investment prospect.
The 2023 Detroit real estate market trend showed steady average listing values and an increase in property sales, with neighboring cities displaying more fluctuation but higher property values. This reflects the city’s resilience amidst an unpredictable industry landscape.
Why Buying a Foreclosure is a Smart Move