Detroit, MI
Housing market overview · Updated weekly
$78,000median sale price
Homes sold
418
Last 12 weeks
Days on market
68
Average pace
Active listings
2,657
6.4 months supply
Sale-to-list
95.0%
Below asking
The Detroit housing market is currently classified as a buyer's market with a median sale price of $78,000. Prices have fallen 10.6% compared to last year, with homes spending an average of 68 days on market, indicating 6.4 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.
Market trends
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Frequently asked questions
What is the average home price in Detroit?
The median home sale price in Detroit is $78,000, down 10.6% from last year.
How long do homes stay on market in Detroit?
Homes typically spend 68 days on market before going under contract.
Is Detroit a buyer's or seller's market?
With 6.4 months of supply, Detroit is currently a buyer's market.
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