RealTrends Market Report
Michigan, MI
Single-Family Homes
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Michigan, MI
Thu Nov 21 2024
This week the median list price for Michigan, MI is $284,900 with the market action index hovering around 44. This is less than last month's market action index of 46. Inventory has held steady at or around 18,560.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Real-Time Market Profile
| Median List Price | $284,900 | |
| Median Price of New Listings | $249,900 | |
| Per Square Foot | $160 | |
| Average Days on Market | 86 | |
| Median Days on Market | 56 | |
| Price Decreased | 38% | |
| Price Increased | 1% | |
| Relisted | 10% | |
| Inventory | 18,560 | |
| Median Rent | ||
| Market Action | 44 | |
| Slight Seller's Advantage | ||
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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 |
|---|---|---|---|---|---|---|---|---|
| $689,999 | 2,907 | 0.5 - 1 acre | 4 | 3 | 25 | 258 | 490 | 70 |
| $359,900 | 1,968 | 0.25 - 0.5 acre | 3 | 2 | 46 | 493 | 653 | 49 |
| $220,000 | 1,482 | 8,000 - 10,000 sqft | 3 | 1.5 | 71 | 556 | 727 | 42 |
| $100,000 | 1,110 | 4,500 - 6,500 sqft | 3 | 1 | 83 | 490 | 618 | 56 |