RealTrends Market Report

Michigan, MI

Single-Family Homes

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Michigan, MI

Thu Apr 30 2026
This week the median list price for Michigan, MI is $279,900 with the market action index hovering around 47. This is an increase over last month's market action index of 46. Inventory has increased to 15,933. Click here to stay informed with the Michigan market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Michigan, MI

Thu Apr 30 2026
This week the median list price for Michigan, MI is $279,900 with the market action index hovering around 47. This is an increase over last month's market action index of 46. Inventory has increased to 15,933. Click here to stay informed with the Michigan market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Michigan market.
Median List Price $279,900
Median Price of New Listings $305,000
Per Square Foot $184
Average Days on Market 103
Median Days on Market 49
Price Decreased 26%
Price Increased 1%
Relisted 12%
Inventory 15,933
Median Rent
Market Action 47
Strong Seller's Market

Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$739,900 2,676 0.5 - 1 acre 4 3 24 533 410 49
$374,900 1,728 0.25 - 0.5 acre 3 2 50 799 744 35
$210,000 1,285 6,500 - 8,000 sqft 3 1.5 76 709 833 35
$90,000 1,046 4,500 - 6,500 sqft 3 1 85 362 522 70