Michigan Real Estate Trends - A New Way to Look at Michigan Realty
The robust Michigan real estate market caters to investors, home buyers and renters alike with its wide variety of price points and property types. Urbanites need look no further than Detroit homes for sale to find the downtown living and city nightlife that they crave.
Buyers seeking a suburban or rural lifestyle will be pleased to know that the Michigan real estate market encompasses both unique and traditional housing choices. Michigan is still considered a traditional “buyer’s market” as the average condo is generally on the market for 188 days and single family homes 154 days before sale.
The Detroit real estate market significantly prefers stand alone houses to condominiums or townhouses. The average condo sells for $107,000 and is on the market for almost 9 months while single family homes cost $71,000 and generally find a buyer in 125 days. The city’s charm combined with the wealth of inventory makes the Detroit real estate market an excellent choice for all kinds of local and out-of-state shoppers. Here’s a look at current prices in the city.
Average listing price for properties in Detroit:Michigan Real Estate:
Largest Increase in Listing Price
| City | 3 mo. | |
|---|---|---|
| Benton Harbor, MI Real Estate | 30.77% | |
| Cassopolis, MI Real Estate | 23.00% | |
| Port Huron, MI Real Estate | 21.27% | |
| Saint Clair Shores, MI Real Estate | 17.51% | |
| Waterford, MI Real Estate | 16.09% |
Michigan Real Estate:
Largest Decrease in Listing Price
| City | 3 mo. | |
|---|---|---|
| Inkster, MI Real Estate | 10.92% | |
| Niles, MI Real Estate | 10.35% | |
| Ada, MI Real Estate | 10.12% | |
| South Haven, MI Real Estate | 8.20% | |
| Allegan, MI Real Estate | 7.42% |
Most Expensive Michigan Homes for Sale by City
| City | Median $ | 3 mo. | |
|---|---|---|---|
| Bloomfield Township, MI Homes for Sale | $741,033 | 3.95% | |
| New Buffalo, MI Homes for Sale | $732,463 | 12.59% | |
| Birmingham, MI Homes for Sale | $644,146 | 2.16% | |
| Oakland Township, MI Homes for Sale | $568,740 | 2.90% | |
| Northville Township, MI Homes for Sale | $559,247 | 5.54% |
Least Expensive Michigan Homes for Sale by City
| City | Median $ | 3 mo. | |
|---|---|---|---|
| Detroit, MI Homes for Sale | $22,614 | 7.02% | |
| Inkster, MI Homes for Sale | $22,878 | 10.92% | |
| Flint, MI Homes for Sale | $25,054 | 3.81% | |
| Hazel Park, MI Homes for Sale | $28,151 | 2.03% | |
| Eastpointe, MI Homes for Sale | $39,234 | 3.55% |
Top 5 Michigan Cities for Families
| City | Homes with Children |
Crime vs. Natl. Avg. |
|---|---|---|
| Benton Harbor, MI Local Info | 46.00% | 6.26 |
| Macomb, MI Local Info | 45.00% | 0.40 |
| East Grand Rapids, MI Local Info | 44.00% | 0.27 |
| Beecher, MI Local Info | 43.00% | 0.05 |
| Forest Hills, MI Local Info | 43.00% | 0.31 |
Top 5 Michigan Cities for Singles
| City | Unmarried | Female to Male |
|---|---|---|
| Highland Park, MI Local Info | 87.00% | 54% / 46% |
| Benton Harbor, MI Local Info | 83.00% | 54% / 46% |
| East Lansing, MI Local Info | 82.00% | 52% / 48% |
| Big Rapids, MI Local Info | 82.00% | 48% / 52% |
| Mount Pleasant, MI Local Info | 82.00% | 55% / 45% |
Largest Increase in Listing Price Methodology
This chart uses the median listing price of cities with at least 100 active property listings to calculate the largest percentage increase in median listing prices for single family homes over a three month period.
Largest Decrease in Listing Price Methodology
This chart uses the median listing price of cities with at least 100 active property listings to calculate the largest percentage decrease in median listing prices for single family homes over a three month period.
Most Expensive Homes for Sale by City Methodology
This chart uses the median listing price of cities with at least 100 active property listings to retrieve the cities with the five highest median listing prices of single family homes. In addition, the median listing prices are used to calculate the associated increase or decrease in median listing price as a percentage over a three month period.
Least Expensive Homes for Sale by City Methodology
This chart uses the median listing price of cities with at least 100 active property listings to retrieve the cities with the five lowest median listing prices of single family homes. In addition, the median listing prices are used to calculate the associated increase or decrease in median listing price as a percentage over a three month period.
Top 5 Cities for Families Methodology
This chart displays the top five cities with a population of at least 10,000 that have the highest percentage of homes with children and the lowest crime rate. Crime rate is determined by comparing each city's crime rate index against the national crime rate index, which equals 100. A number lower than one indicates less crime than the national average, while a number greater than one indicates more overall crime than the national average.
Top 5 Cities for Singles Methodology
This chart displays the top five cities with a population of at least 10,000 that have the highest percentage of unmarried people. An unmarried person is defined as someone who was never married, is separated, or divorced.