Home Values

48225 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$56,900

  • 17.1% 1-year change
  • 4.2% 1-year forecast

The median home value in 48225 is $56,900. 48225 home values have gone up 17.1% over the past year and Zillow predicts they will rise 4.2% within the next year. The median list price per square foot in 48225 is $47, which is lower than the Harper Woods average of $47. The median price of homes currently listed in 48225 is $50,000 while the median price of homes that sold is $59,450. The median rent price in 48225 is $800, which is lower than the Harper Woods median of $825.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 48225 is 6.3%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 48225 homeowners underwater on their mortgage is 56.6%, which is the same as Harper Woods at 56.6%.

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Relative ZHVI
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48225 Market Overview

Data through Oct 31, 2014
  • $56,900 ZHVI
  • 4.2% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $50,000 Median listing price
  • $59,450 Median sale price (Sep 30, 2014)
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48225 Market Health

Data through Oct 31, 2014
  • 6.7/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 56.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 6.3% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Zip Codes

Name Median ZHVI
48230 $277,800
48236 $228,300
48081 $112,200
Name Median ZHVI
48080 $97,100
48066 $67,800
48021 $59,500
Name Median ZHVI
48215 $48,500
48224 $40,800
48205 $36,300

Listings & Sales

Data through Oct 31, 2014
  • $47 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 34.5% Listings with price cut
17.9%
Sold below listing
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48225 Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $801 48225
    $804 Harper Woods
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 0.7 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $800 Rent list price
  • $0.95 Rent list price / sq ft
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