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Detroit, MI Real Estate Market Trends


Market Trends + Stats

Detroit, MI - Condo Sales Statistics
Feb 2017 Jan 2017 1 Month Change Feb 2016 1 Year Change Feb 2012 5 Year Change
# of Sales 0 0 0.0% 13 -100.0% 14 -100.0%
Average Purchase Price $0 $0 0.0% $179,280 -100.0% $66,913 -100.0%
Minimum Purchase Price $0 $0 0.0% $5,100 -100.0% $10,000 -100.0%
Maximum Purchase Price $0 $0 0.0% $410,000 -100.0% $299,900 -100.0%
Median Purchase Price $0 $0 0.0% $140,530 -100.0% $65,613 -100.0%
Average Purchase Price per Square Foot $0 $0 0.0% $114 -100.0% $54 -100.0%
Detroit, MI - Single Family Homes Sales Statistics
Feb 2017 Jan 2017 1 Month Change Feb 2016 1 Year Change Feb 2012 5 Year Change
# of Sales 0 285 -100.0% 571 -100.0% 1,157 -100.0%
Average Purchase Price $0 $32,931 -100.0% $30,048 -100.0% $31,656 -100.0%
Minimum Purchase Price $0 $500 -100.0% $436 -100.0% $150 -100.0%
Maximum Purchase Price $0 $330,000 -100.0% $642,527 -100.0% $208,634 -100.0%
Median Purchase Price $0 $29,312 -100.0% $26,442 -100.0% $24,172 -100.0%
Average Purchase Price per Square Foot $0 $25 -100.0% $26 -100.0% $29 -100.0%

Detroit, MI Real Estate Update for February 2017

The Detroit housing market experienced decline in February 2017.

Single family homes market experienced decline in February 2017 . Both median sales price and total units sold declined compared to January 2017. Condos market had mixed results in February 2017 . Both median sales price and total units sold declined compared to January 2017.

February 2017 Home Sales

Detroit housing sales totaled 0 units in February 2017, down 100 percent versus the same month last year. That’s a 100 percent decrease from January results when unit sales were a 58 percent decrease. Month-over-month, unit sales decreased 100 percent.

Housing prices saw in February. Median sales price in Detroit for single-family homes was $0, a 100 percent decrease compared to 2017. This is a significant decline from January, when median sales price was flat versus the prior year. Median sales price in Detroit for Condos was $0, a 100 percent decrease compared to 2017. This is no change from January, when median sales price decreased 100 percent versus the prior year. The most expensive Detroit property sale closed in January was a single-family home that sold for $330,000.

Single-family homes comprised NaN% of all February 2017 sales in Detroit. Median sales price for these properties was $0, down 100 percent compared to the same time in 2017. Condo sales prices down 100 percent versus last year, coming in at $0.

Detroit’s single-family home buyers got for their money in February those who purchased a condo. The median price per square foot for a single-family home was $0, while condos sold for $0 per square foot.

Detroit Housing Inventory Today

According to national real estate portal HomeFinder.com, there were 37,463 units for sale in Detroit, MI as of April 29, 2017. Single-family homes have a mean list price of $100,821. The current mean list price for a condo in Detroit is $249,971.

The information represented within this report is based on HomeFinder.com internal data and select data from public and private 3rd party data sources, representing single-family dwellings unless otherwise specified. Any opinions are solely those of HomeFinder.com. This should not be considered as definitive advice on your home buying or selling decisions, nor do we warrant the accuracy of the data. Please consult a licensed real estate agent prior to making any home buying or selling decisions.