RealTrends Market Report

Michigan, MI

Single-Family Homes

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Michigan, MI

Mon Dec 04 2023
This week the median list price for Michigan, MI is $249,900 with the market action index hovering around 45. This is less than last month's market action index of 47. Inventory has held steady at or around 15,098. Click here to stay informed with the Michigan market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Michigan, MI

Mon Dec 04 2023
This week the median list price for Michigan, MI is $249,900 with the market action index hovering around 45. This is less than last month's market action index of 47. Inventory has held steady at or around 15,098. Click here to stay informed with the Michigan market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Real-Time Market Profile

Never miss important changes in the Michigan market.
Median List Price $249,900
Median Price of New Listings $209,949
Per Square Foot $158
Average Days on Market 94
Median Days on Market 56
Price Decreased 37%
Price Increased 1%
Relisted 9%
Inventory 15,098
Median Rent
Market Action 45
Strong Seller's Market

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
$659,000 2,800 0.5 - 1 acre 4 3 25 132 321 84
$325,000 1,796 0.25 - 0.5 acre 3 2 49 268 464 42
$187,000 1,308 8,000 - 10,000 sqft 3 1 72 361 570 35
$79,900 1,060 4,500 - 6,500 sqft 3 1 83 225 384 63