Birmingham, MI 48009 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary market indicator, the median sold price, is $759,000, which represents the most reliable signal of recent transaction value in the ZIP and suggests continued high-end demand relative to historic norms; up price momentum supports this interpretation.
2. There is a material gap between the median listing price ($1,050,000) and the median sold price ($759,000), which may indicate pricing friction and elevated seller expectations versus realized transaction prices; this appears alongside a very long median days on market (293), suggesting slower sales velocity for listings priced above market.
3. Market-level indicators show the market temperature is hot and the price year-over-year trend is up, signaling continued seller-favorable conditions for appropriately priced SFR and condo inventory despite slower individual listing turnover.
4. Macro headwinds include elevated interest rate pressure (current local 30-year averages around 6.69%) and a rent year-over-year trend that is down, which together may temper buyer purchasing power and investor cash-flow expectations even as transaction prices remain firm.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.