RealTrends Market Report
Michigan, MI
Single-Family Homes
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Michigan, MI
Tue Jul 21 2026
This week the median list price for Michigan, MI is $315,000 with the market action index hovering around 46. This is less than last month's market action index of 48. Inventory has increased to 22,039.
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 been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $315,000 | |
| Median Price of New Listings | $324,900 | |
| Per Square Foot | $192 | |
| Average Days on Market | 82 | |
| Median Days on Market | 42 | |
| Price Decreased | 35% | |
| Price Increased | 1% | |
| Relisted | 12% | |
| Inventory | 22,039 | |
| Median Rent | ||
| Market Action | 46 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $775,000 | 2,811 | 0.5 - 1 acre | 4 | 3 | 26 | 599 | 560 | 42 |
| $399,900 | 1,850 | 0.25 - 0.5 acre | 3 | 2 | 46 | 949 | 816 | 35 |
| $239,900 | 1,356 | 8,000 - 10,000 sqft | 3 | 1.5 | 71 | 884 | 864 | 35 |
| $104,900 | 1,068 | 4,500 - 6,500 sqft | 3 | 1 | 85 | 570 | 677 | 56 |