RealTrends Market Report

Detroit, MI

Single-Family Homes

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Detroit, MI

Fri May 16 2025
This week the median list price for Detroit, MI is $99,500 with the market action index hovering around 34. This is about the same as last month's market action index of 34. Inventory has increased to 1,844. Click here to stay informed with the Detroit market!

Market Action Index

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

Slight Seller's Advantage

Market Narrative

The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.

Detroit, MI

Fri May 16 2025
This week the median list price for Detroit, MI is $99,500 with the market action index hovering around 34. This is about the same as last month's market action index of 34. Inventory has increased to 1,844. Click here to stay informed with the Detroit market!

Market Action Index

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

Slight Seller's Advantage

Market Narrative

The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Detroit market.
Median List Price $99,500
Median Price of New Listings $99,900
Per Square Foot $89
Average Days on Market 121
Median Days on Market 63
Price Decreased 37%
Price Increased 4%
Relisted 16%
Inventory 1,844
Median Rent
Market Action 34
Slight Seller's Advantage

The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

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
$209,000 1,582 4,500 - 6,500 sqft 3 2 96 56 41 56
$120,000 1,193 4,500 - 6,500 sqft 3 1 85 42 53 56
$84,900 1,056 4,500 - 6,500 sqft 3 1 83 42 47 63
$51,000 1,001 0 - 4,500 sqft 3 1 84 53 44 91