Detroit - MI housing market
The Detroit metro has a typical home value of $271,675, up 2.6% from a year ago. Homes are moving fast at 10 days on market, a strong seller's market. 24% of listings have had a price cut. Data from Zillow Research, updated monthly.
How to read this data
The typical home value ($271,675) is the Zillow Home Value Index for the Detroit - MI metro area , a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 2.6% over the past year. In Detroit - MI, that means a home worth $264,790 last year is now worth roughly $271,675.
The median sale price , what homes actually close for , is $264,115. Homes are selling at 99.2% of list price, meaning buyers have room to negotiate.
Homes listed in Detroit - MI sit on the market for roughly 10 days before going pending. Shorter = seller's market; longer = buyer's market.
About 23.8% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 6,019 new listings hit the market each month in Detroit - MI. There are currently 14,361 homes for sale, up 11.2% from a year ago.
The typical monthly rent in Detroit - MI is $1,518, up 3.2% year over year. For investors, the price-to-rent ratio here is roughly 15x annual rent.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Other metros in MI
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Grand Rapids - MI | $362,206 | +4.7% | 6.0d |
| Lansing - MI | $252,858 | +3.6% | 7.0d |
| Flint - MI | $199,114 | +5.9% | 10.0d |
| Ann Arbor - MI | $426,231 | +2.4% | 7.0d |
| Kalamazoo - MI | $281,507 | +4.3% | 7.0d |