Michigan Real Estate Trends - A New Way to Look at Michigan Realty

Michigan Real Estate

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:
  • Commercial: $227,000
  • Condo/Townhouse: $90,000
  • Lot/Land: $163,000
  • Multi-Family: $283,000
  • Rental: $1,100
  • Single Family: $132,000
  • Map of Michigan Cities - Average Listing Price Change

    Michigan Real Estate:
    Largest Increase in Listing Price

    City 3 mo.
    South Haven, MI Real Estate
    13.00%
    Charlotte, MI Real Estate
    12.35%
    Oakland Township, MI Real Estate
    10.94%
    Algonac, MI Real Estate
    10.47%
    Warren, MI Real Estate
    10.38%

    Michigan Real Estate:
    Largest Decrease in Listing Price

    City 3 mo.
    Port Huron, MI Real Estate
    22.42%
    Benton Harbor, MI Real Estate
    14.63%
    Flint Township, MI Real Estate
    13.22%
    Harrison Township, MI Real Estate
    13.14%
    Holland, MI Real Estate
    10.30%

    Michigan Homes For Sale By City

    Most Expensive Michigan Homes for Sale by City

    City Median $ 3 mo.
    Bloomfield Hills, MI Homes for Sale $1,363,053
    6.63%
    Bloomfield Township, MI Homes for Sale $982,345
    0.21%
    Oakland Township, MI Homes for Sale $811,945
    10.94%
    New Buffalo, MI Homes for Sale $801,762
    0.89%
    Birmingham, MI Homes for Sale $790,806
    3.06%

    Least Expensive Michigan Homes for Sale by City

    City Median $ 3 mo.
    Detroit, MI Homes for Sale $25,135
    4.58%
    Inkster, MI Homes for Sale $28,881
    0.37%
    Flint, MI Homes for Sale $31,142
    9.55%
    Lincoln Park, MI Homes for Sale $52,195
    4.07%
    Eastpointe, MI Homes for Sale $56,253
    0.99%

    Best Michigan Cities for Families and Singles

    Top 5 Michigan Cities for Families

    City Homes with
    Children
    Crime vs. Natl. Avg.
    Macomb, MI Local Info 47.00% 0.41
    East Grand Rapids, MI Local Info 46.00% 0.23
    Forest Hills, MI Local Info 44.00% 0.31
    Benton Harbor, MI Local Info 44.00% 5.94
    Hamtramck, MI Local Info 42.00% 3.30

    Top 5 Michigan Cities for Singles

    City Unmarried Female
    to Male
    Big Rapids, MI Local Info 89.00% 49% / 51%
    Highland Park, MI Local Info 89.00% 51% / 49%
    Benton Harbor, MI Local Info 87.00% 53% / 47%
    East Lansing, MI Local Info 87.00% 51% / 49%
    Mount Pleasant, MI Local Info 87.00% 52% / 48%
    Methodology

    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.