Mark Johnson
Michigan, MI
Single-Family Homes
Market Update
Michigan, MI
Wed May 06 2026
This week the median list price for Michigan, MI is $288,500 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 16,288.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has achieved a relative stasis point in terms of supply and demand - conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result.
Real-Time Market Profile
| Median List Price | $288,500 | |
| Median Price of New Listings | $310,000 | |
| Per Square Foot | $186 | |
| Average Days on Market | 101 | |
| Median Days on Market | 42 | |
| Price Decreased | 27% | |
| Price Increased | 1% | |
| Relisted | 12% | |
| Inventory | 16,288 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $749,000 | 2,700 | 0.5 - 1 acre | 4 | 3 | 25 | 538 | 448 | 49 |
| $379,900 | 1,755 | 0.25 - 0.5 acre | 3 | 2 | 49 | 840 | 786 | 28 |
| $215,000 | 1,296 | 8,000 - 10,000 sqft | 3 | 1.5 | 76 | 717 | 859 | 35 |
| $93,000 | 1,054 | 4,500 - 6,500 sqft | 3 | 1 | 86 | 395 | 593 | 70 |