Mark Johnson
Michigan, MI
Single-Family Homes
Market Update
Michigan, MI
Sat Jun 20 2026
This week the median list price for Michigan, MI is $314,999 with the market action index hovering around 48. This is about the same as last month's market action index of 48. Inventory has increased to 20,098.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $314,999 | |
| Median Price of New Listings | $314,900 | |
| Per Square Foot | $195 | |
| Average Days on Market | 85 | |
| Median Days on Market | 35 | |
| Price Decreased | 32% | |
| Price Increased | 1% | |
| Relisted | 12% | |
| Inventory | 20,098 | |
| Median Rent | ||
| Market Action | 48 | |
| Strong Seller's Market | ||
While this week the median didn’t fluctuate much, prices continue to sit at all time highs. 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 |
|---|---|---|---|---|---|---|---|---|
| $785,000 | 2,755 | 0.5 - 1 acre | 4 | 3 | 26 | 630 | 561 | 35 |
| $399,900 | 1,824 | 0.25 - 0.5 acre | 3 | 2 | 46 | 868 | 903 | 28 |
| $239,500 | 1,334 | 8,000 - 10,000 sqft | 3 | 1.5 | 72 | 939 | 1,048 | 28 |
| $99,900 | 1,062 | 4,500 - 6,500 sqft | 3 | 1 | 85 | 566 | 701 | 56 |