Detroit, MI 48202 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

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 neighborhood's primary market indicator, the median sold price, is $194,500, representing the most reliable snapshot of recent transaction-level value in the ZIP code.
2. There is a notable gap between the median listing price of $279,500 and the median sold price of $194,500, which may indicate pricing friction between seller expectations and realized transaction prices.
3. The market shows slower sales velocity with a median days on market of 320, alongside a profile of relatively constrained active supply in the analyzed sample, which suggests liquidity is moderate and transactions may require longer marketing times.
4. Macro and demand signals show the price year-over-year trend is up, the rent year-over-year trend is up, the market temperature is neutral, and interest rate pressure is elevated — notably, current 30-year fixed mortgage rates in the 48202 area are approximately 6.7%, which is 0.8% higher than the 5.9% average observed for typical loans originated earlier in 2026.

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.