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Market reports near me

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Detroit housing market report

Wayne County, Michigan

Market conditions

Seller's Neutral Buyer's Unknown market

Detroit is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

We don't have enough info to determine this area's market type.

Asking vs. sold price

93 homes over asking

85 homes at asking

216 homes under asking

Median sold price

+12.4%

$ - 9 - 0 K

Average sale time

+5.9%

- 4 - 8 days

Mortgage rates

30-Year Fixed

Rate

7.125%

APR

7.436%

Points

1.875 ($5,156.25)

20-Year Fixed

Rate

6.99%

APR

7.408%

Points

2 ($5,500.00)

Availability

Homes sold

- 3 - 9 - 4

Last month

-10.3%

Change MoM

Homes for sale

- 3 - 2 - 7 - 3

Last month

+13.4%

Change MoM

Sold price

BedsFeb 2024Feb 2025 Change
1 -- --
--
2 -- --
--
3 $77.9K $85.1K
+ 9.2
4 -- $133.8K
--

Data is current as of 12:00 AM UTC on May 1, 2025

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