Bloomfield Hills, MI 48304 Real Estate Market Report

ZIP Code: 48304
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Bloomfield Hills real estate market in April 2026 is characterized by a median sold price of $649,000, reflecting a stable market environment. Although there is no historical sold price change percentage available, the current market conditions suggest a slight upward trend in prices. The median listing price stands at $975,000, indicating a notable gap between seller expectations and actual transaction values, which may create pricing friction for potential buyers.

Transaction activity appears moderate, with 231 days on market indicating slower sales velocity. The current market temperature is described as neutral, suggesting balanced conditions despite elevated interest rate pressure. This environment may lead to cautious buyer behavior, as current 30-year fixed mortgage rates have increased to approximately 6.35%. Overall, the market is experiencing elevated inventory levels, which may provide opportunities for buyers while presenting challenges for sellers.

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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.

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Market Metrics

Note: 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.

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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.

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Property Taxes

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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.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Bloomfield Hills, MI are approximately 6.35% compared to 6.19% a week ago, presenting a slight increase for property owners.

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

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Key Findings

1. The median sold price of $649,000 indicates a stable market, though it is significantly lower than the median listing price of $975,000, suggesting potential pricing friction.

2. With 231 days on market, the sales velocity is slower, which may indicate a cautious buyer sentiment in the current market environment.

3. The market temperature is neutral, reflecting balanced conditions despite elevated inventory levels relative to sales activity.

4. Current interest rates are elevated at approximately 6.35%, which may contribute to buyer hesitation and impact overall market liquidity.

5. The median market rent is $2,270, suggesting a stable rental market, although the year-over-year trend for rent is reported as down.

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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.