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
City | Median Est. Value |
---|---|
Detroit | $ 79,900 $ 69/sqft |
Housing Market Summary for 48221
Mar 2023 | February 2024 | Change | |
---|---|---|---|
Median Listing Price | $129.9K | $132.5K | 1.96% |
Median Sold Price | $95,877.952 | $132.5K | 38.20% |
Homes For Sale | 84 | 73 | -13.10% |
Homes Sold | 930 | 508 | -45.38% |
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%.
Recently Sold Homes
Explore recent offers and recently sold homes in 48221
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.
- Pre-ForeclosurePre-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 OwnedThe 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.
- Auctionsdetroit 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.
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Guide for 48221
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.
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
Looking to buy a house wholesale? Discover 4 essential tips to navigate the wholesale real estate market successfully.