48111, Belleville, MI

Belleville is a city located in the southeastern corner of Michigan. As of the 2010 census, Belleville had a population of 36,811. The city is home to Eastern Michigan University and has seen significant growth in recent years as a result of the university's presence. Home prices in Belleville have increased significantly over the past several years, reaching a peak in late 2017 before beginning to decline.

As of September 2018, there were an estimated 2,948 homes for sale in Belleville and an estimated median home price of $161,000. The city has seen particularly strong growth in the past few years; as of September 2018, there were an estimated 3,716 homes for sale and a median home price of $175,000. This represents a 38% increase from 2017 and a 102% increase from 2016. Despite this growth however, Belleville still ranks relatively low when compared to other cities across Michigan with similar populations; as of September 2018, the median home price in Detroit was $257,500 while the median home price in Ann Arbor was $225,000.

One reason that Belleville's home prices have been so high is that there are relatively few homes available for purchase; as of September 2018 there were an estimated 2,948 homes for sale in Belleville which is less than half the number of homes available for purchase statewide. Additionally, many homeowners who do sell their homes quickly find that they can command high prices due to limited supply and high demand; according to Zillow data from August 2018 , homeowners who sold their homes within one year after listing received an average asking priceof $183K - nearly triple what they would receive if they waited three months or more on average .

Despite these factors however it should be noted that Belleville's housing market is still very much subject to change; according to Zillow data from January 2019 , only 39%of all properties currently listed for sale are occupied which indicates that there may be plenty of room for further appreciation in the near future .