Detroit, MI Home Values & Market Trends
Real estate market trends reflect that there have been 10,909 transactions over the past year in Detroit. The median value for residential home transactions that occurred over the previous year is $92,082. The number of current listings in Detroit is 1,462, and the percentage of properties for sale in the city is 1462.00%. Detroit, MI currently has 651 properties in foreclosure, 392 bank owned properties, 259 properties headed for auction, and 1,462 properties for sale.
Detroit, MI Real Estate Market Overview
| Zip | Median Est. Value | Zip | Median Est. Value |
|---|---|---|---|
| 48224 | $ 100,000 $ 84/sqft | 48215 | $ 98,198 $ 71/sqft |
| 48228 | $ 80,000 $ 74/sqft | 48202 | $ 160,228 $ 80/sqft |
| 48219 | $ 97,925 $ 94/sqft | 48207 | $ 37,538 $ 22/sqft |
| 48235 | $ 109,000 $ 91/sqft | 48208 | $ 68,490 $ 51/sqft |
| 48221 | $ 146,100 $ 101/sqft | 48210 | $ 74,369 $ 72/sqft |
| 48227 | $ 84,400 $ 67/sqft | 48217 | $ 110,000 $ 86/sqft |
| 48205 | $ 65,000 $ 62/sqft | 48209 | $ 79,900 $ 48/sqft |
| 48238 | $ 85,960 $ 61/sqft | 48216 | $ 125,000 $ 79/sqft |
| 48234 | $ 78,450 $ 76/sqft | 48211 | $ 50,307 $ 41/sqft |
| 48223 | $ 109,900 $ 83/sqft | 48242 | $ -- $ -- |
| 48204 | $ 67,634 $ 53/sqft | 48226 | $ -- $ -- |
| 48206 | $ 118,700 $ 53/sqft | 48243 | $ -- $ -- |
| 48213 | $ 59,482 $ 48/sqft | 48201 | $ -- $ -- |
| 48214 | $ 96,111 $ 56/sqft |
Housing Market Summary for Detroit, MI
| Feb 2024 | January 2025 | Change | |
|---|---|---|---|
| Median Listing Price | $84,500 | $99,900 | 18.22% |
| Median Sold Price | $75,709.175 | $87,078.853 | 15.02% |
| Homes For Sale | 1,056 | 1,486 | 40.72% |
| Homes Sold | 6,265 | 5,723 | -8.65% |
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 Detroit, MI
Browse Homes in Detroit, MI
Detroit home values range from $18,516 to $4,326,741. The median estimated value of a home in Detroit is $92,082. The median list price of a home is 99,999, and the total count of properties in the city is 8,897.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Detroit, MI with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 27 zips within Detroit, MI; of those zips, 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 Detroit, MI ranges from the highest value of $177,352 in 48202 to the lowest value of $21,119 in 48205. Bank owned homes and properties account for 4.41% of properties in Detroit, MI. There are 27 zips within Detroit, MI; 48227 containing 49 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions48221 has 32 auction properties, the highest number of properties going to auction in a single zip in the state of Detroit, MI. Auction homes and other auction properties account for 2.91% of all properties in Detroit, MI. There are 27 zips within Detroit, MI; of those zips, the median estimated home value for homes going to auction ranges from $440,270 in 48202 to the lowest value of $27,205 in 48202.
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