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Featured local agent — Farmington, MI
Sarah Mitchell
Compass Real Estate · Farmington, MI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Farmington, MI Housing Market & Real Estate
Housing market overview · Updated monthly ·
$287,500median sale price
How is the Farmington, MI housing market right now?
The median home sale price in Farmington, MI is $287,500, down 14.2% year-over-year. Homes sell in an average of 21 days with 15 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Farmington a buyer's or seller's market?
Farmington, MI is currently a strong seller's market, based on 0.9 months of supply and homes selling in about 21 days. How we determine this →
Homes sold
16
Last 12 weeks
Days on market
21
Average pace
Active listings
15
0.9 months supply
Sale-to-list
100.8%
Above asking
What does the Farmington housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $287,500 |
| Median list price | $326,000 |
| Year-over-year price change | -14.2% |
| Average days on market | 21 days |
| Active inventory | 15 listings |
| Months of supply | 0.9 months |
| Sale-to-list price ratio | 100.8% |
| Median price per sq ft | $171/sq ft |
| Homes sold (latest month) | 16 |
| New listings (latest month) | 13 |
| Listings with a price cut | 13.3% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Farmington by property type?
How the Farmington, MI market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $357,000 | $221/sq ft | 10 | 29 days |
| Condo / Co-op | $271,950 | $134/sq ft | 6 | 14 days |
Source: Redfin · Updated monthly
The Farmington housing market is currently classified as a strong seller's market with a median sale price of $287,500. Prices have fallen 14.2% compared to last year, with homes spending an average of 21 days on market, indicating 0.9 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.6x provides context for how home values compare to local earning capacity.
Homes for sale in Farmington
There are currently 15 homes listed for sale in Farmington, Michigan. The median listing price is $326K.
Active listings
15
Homes on market
Median list price
$326K
Avg. days on market
21
Days until sale
New this week
13
Newly listed
Who lives in Farmington?
Population
11,472
Median income
$94,115/yr
Median age
39.6 years
Owner-occupied
64.5%
College grads
60.8%
Avg commute
24.1 min
Source: U.S. Census Bureau ACS
What are homes worth in Farmington?
Zillow home value
$338,685
Zillow rent index
$1,403/mo
Price-to-rent ratio
20.1x
Price-to-income
3.6x
Source: Zillow Research
What is it like to live in Farmington?
Farmington is a community of approximately 11K residents with a median age of 39.6 years.The median household income is $94,115, which reflects a relatively affluent area with strong earning potential. 60.8% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 64.5%, showing a blend of owner and renter-occupied properties. The average commute time is 24.1 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Farmington offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Farmington?
4 schools tracked · 2,490 students
The largest public schools serving Farmington, MI by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Farmington High School
Grades 9-12 · 1,471 students
Gill Elementary School
Grades PK-5 · 516 students
Longacre Elementary School
Grades K-5 · 454 students
Visions Unlimited
Grades 12 · 49 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Farmington, MI?
Want a head-to-head view? Compare Farmington side-by-side with any other U.S. city using our market-comparison tool.
Is Farmington a good real estate investment market?
For investors evaluating Farmington, the price-to-rent ratio of 20.1x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 14.2% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Farmington's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Farmington's median home price.
Frequently asked questions
What is the average home price in Farmington?
The median home sale price in Farmington is $287,500, down 14.2% from last year.
How long do homes stay on market in Farmington?
Homes typically spend 21 days on market before going under contract.
What is the median income in Farmington?
The median household income is $94,115 per year.
Is Farmington a buyer's or seller's market?
With 0.9 months of supply, Farmington is currently a strong seller's market.
What is the Zillow home value estimate for Farmington?
The Zillow Home Value Index (ZHVI) for Farmington is $338,685, representing the typical home value in the area.
What is the median condo price in Farmington?
The median condo/co-op sale price in Farmington, MI is $271,950, compared to $357,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Farmington?
The median single-family home price in Farmington, MI is $357,000 (about $221 per square foot).
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