RealTrends Market Report
Michigan, MI
Single-Family Homes
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Michigan, MI
Mon Dec 02 2024
This week the median list price for Michigan, MI is $275,000 with the market action index hovering around 45. This is about the same as last month's market action index of 45. Inventory has held steady at or around 18,004.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Real-Time Market Profile
| Median List Price | $275,000 | |
| Median Price of New Listings | $235,000 | |
| Per Square Foot | $160 | |
| Average Days on Market | 89 | |
| Median Days on Market | 56 | |
| Price Decreased | 37% | |
| Price Increased | 1% | |
| Relisted | 11% | |
| Inventory | 18,004 | |
| Median Rent | ||
| Market Action | 45 | |
| Strong Seller's Market | ||
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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 |
|---|---|---|---|---|---|---|---|---|
| $675,000 | 2,840 | 0.5 - 1 acre | 4 | 3 | 24 | 238 | 637 | 77 |
| $349,900 | 1,900 | 0.25 - 0.5 acre | 3 | 2 | 48 | 446 | 891 | 49 |
| $214,900 | 1,428 | 8,000 - 10,000 sqft | 3 | 1.5 | 72 | 575 | 883 | 42 |
| $99,900 | 1,092 | 4,500 - 6,500 sqft | 3 | 1 | 83 | 458 | 753 | 63 |