Southgate, MI Home Values & Market Trends
Real estate market trends reflect that there have been 354 transactions over the past year in Southgate. The median value for residential home transactions that occurred over the previous year is $169,043.34. The number of current listings in Southgate is 26, and the percentage of properties for sale in the city is 26.00%. Southgate, MI currently has 15 properties in foreclosure, 3 bank owned properties, 12 properties headed for auction, and 26 properties for sale.
Southgate, MI Real Estate Market Overview
Zip | Median Est. Value |
---|---|
48195 | $ 174,533 $ 149/sqft |
Housing Market Summary for Southgate, MI
Apr 2023 | March 2024 | Change | |
---|---|---|---|
Median Listing Price | $159.9K | $173K | 8.20% |
Median Sold Price | $167.8K | $173K | 3.11% |
Homes For Sale | 22 | 20 | -9.09% |
Homes Sold | 326 | 225 | -30.98% |
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 Southgate, MI
Browse Homes in Southgate, MI
Southgate home values range from $26,810 to $781,226. The median estimated value of a home in Southgate is $169,043.34. The median list price of a home is 189,900, and the total count of properties in the city is 10,257.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Southgate, MI with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Southgate, MI; of that 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 Southgate, MI ranges from the highest value of $183,250 in 48195 to the lowest value of $68,900 in 48195. Bank owned homes and properties account for 0.03% of properties in Southgate, MI. There is 1 zips within Southgate, MI; 48195 containing 3 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions48195 has 12 auction properties, the highest number of properties going to auction in a single zip in the state of Southgate, MI. Auction homes and other auction properties account for 0.12% of all properties in Southgate, MI. There is 1 zips within Southgate, MI; of that zips, the median estimated home value for homes going to auction ranges from $221,000 in 48195 to the lowest value of $117,145 in 48195.
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Guide for Southgate, MI
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
When house prices increase near good school, what options do home buyer have?