48221 Home Values & Market Trends

There are 70 homes currently listed for 48221. 48221 real estate market trends show that home prices range from $4,500 to $549,000, and the median sales price in the 48221 zip code is $136,731.61. The total number of properties sold within the past twelve months is 799. In 48221, 52 properties are in foreclosure, 18 are bank owned properties,and 34 are headed for auction.

48221 Real Estate Market Overview

CityMedian Est. Value
Detroit

$ 79,900

$ 69/sqft

Housing Market Summary for 48221

Mar 2023February 2024Change
Median Listing Price$129.9K$132.5K1.96%
Median Sold Price$95,877.952$132.5K38.20%
Homes For Sale8473-13.10%
Homes Sold930508-45.38%
Price
$/Sqft
Homes For Sale
0
0

Price Per Square Foot

On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.

0
0

Browse Homes in 48221

The median list price of a home in Detroit, is $136,731.61. A total of 70 properties are for sale, and the percentage of properties for sale in the zip code is 70.00%. The total count of 48221 properties is 15,624.

Foreclosure
There is 1 cities within 48221; within this cities, the median estimated home value for homes in foreclosure ranges from $1,407,288 in detroit to the lowest value of $19,662 in detroit. Foreclosure homes account for 0.00% of properties in 48221 with detroit containing 639 foreclosures, the highest number of foreclosure properties in a single city.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 0% of all residential properties in 48221 with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single city. There is 1 cities within 48221; of that cities, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in 48221 ranges from the highest value of $433,475 in detroit to the lowest value of $19,662 in detroit. Bank owned homes and properties account for 0.12% of properties in 48221. There is 1 cities within 48221; detroit containing 401 REO properties, has the highest number of bank owned properties in a single city.
  • Auctions
    detroit has 238 auction properties, the highest number of properties going to auction in a single city in the state of 48221. Auction homes and other auction properties account for 0.22% of all properties in 48221. There is 1 cities within 48221; of that cities, the median estimated home value for homes going to auction ranges from $1,407,288 in detroit to the lowest value of $29,110 in detroit.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.45% of residential properties in 48221 with detroit containing 1060 homes for sale, the highest number of listed properties in a single city. There is 1 cities within 48221; homes for sale in that cities, have a range of median values from $3,806,401 in detroit to the lowest value of $12,960 in detroit.
    Sold Homes
    The median value for recently sold homes ranges from $1,811,573 in detroit to the lowest price of $16,484 in detroit. There is 1 cities within 48221. detroit has 6229 recently sold homes, the highest number of recently sold properties in a single city. Recently sold homes and properties account for 3.21% of properties in 48221.

      Compare Nearby Zip Codes

      Price
      $/Sqft
      Homes For Sale
      0
      0
      48221
      $
      $

      Guide for 48221

      RealtyTrac Market Report
      Michigan
      2023 Michigan Real Estate Market: Analysis Reveals Booming Property Values and Volatile Sold Prices
      Michigan
      Detroit Real Estate Market Holds Steady: 2023 in Review
      Investment Guides
      Why Buying a Foreclosure is a Smart Move
      Wholesale
      4 Tips on How To Buy a House Wholesale
      See More Articles
      RealtyTrac Market Report
      2023 Michigan Real Estate Market: Analysis Reveals Booming Property Values and Volatile Sold Prices
      Michigan|posted 8 December 2023

      Explore the nuances of Michigan’s 2023 real estate market, where rising property values meet shifting sold prices and distressed properties offer investment opportunities amidst a stable yet competitive landscape.

      Detroit Real Estate Market Holds Steady: 2023 in Review
      Michigan|posted 25 January 2024

      The 2023 Detroit real estate market trend showed steady average listing values and an increase in property sales, with neighboring cities displaying more fluctuation but higher property values. This reflects the city’s resilience amidst an unpredictable industry landscape.

      Why Buying a Foreclosure is a Smart Move
      Investment Guides|posted 15 November 2017

      Why Buying a Foreclosure is a Smart Move

      4 Tips on How To Buy a House Wholesale
      Wholesale|posted 8 March 2024

      Looking to buy a house wholesale? Discover 4 essential tips to navigate the wholesale real estate market successfully.