Sun Dec 10 2023
This week the median list price for Detroit, MI is $79,900 with the market action index hovering around 35. This is about the same as last month's market action index of 35. Inventory has held steady at or around 1,956.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$79,900|
|Median Price of New Listings||$94,700|
|Per Square Foot||$71|
|Average Days on Market||114|
|Median Days on Market||70|
|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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$175,000||1,570||4,500 - 6,500 sqft||3||1.5||94||51||46||49|
|$96,500||1,190||4,500 - 6,500 sqft||3||1||83||63||53||56|
|$68,000||1,059||0 - 4,500 sqft||3||1||82||42||52||77|
|$40,000||1,030||0 - 4,500 sqft||3||1||86||34||62||84|