Bloomfield Hills, MI 48304 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

Key Findings

1. The neighborhood's primary market signal is the median sold price: 991,000, which represents the most reliable indicator of recent transaction value and should guide pricing and valuation decisions.
2. The median listing price of 737,450 sits below the median sold price, which may indicate listing-to-sale price friction and suggests sellers' asking expectations may be outpaced by closed-sale outcomes.
3. Market context shows the market temperature is hot with a hot momentum label, yet the median days on market of 299 signals slower observed sales velocity and may indicate pricing or conditioning factors delaying closings.
4. Interest rate pressure is elevated, a headwind for affordability; concurrently, median market rent is 2,500 and the rent year-over-year trend is up, so financing constraints may temper some buyer cohorts even as rents rise.

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.