Detroit, MI 48202 Real Estate Market Report

ZIP Code: 48202
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

In April 2026, the real estate market in Detroit, MI (ZIP: 48202) is characterized by a median sold price of $230,000, reflecting a stable market after a period of rapid growth. The neighborhood has increased 8% since 2023, indicating a positive trend in property values. Despite this appreciation, the market is currently experiencing elevated inventory levels, which may suggest a slight shift towards a more balanced environment favoring buyers.

Transaction activity remains moderate, with properties spending a median of 231 days on the market. This extended timeframe indicates slower sales velocity, which could be attributed to the excess supply relative to sales activity. Additionally, while rental demand remains stable, the median market rent has seen a slight decline to $1,629, highlighting potential challenges for landlords in maintaining rental income amidst a changing market landscape.

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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

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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.

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Key Findings

1. The median sold price of $230,000 reflects a strong market, having increased 8% since 2023.

2. Properties are taking a median of 231 days on market, indicating a slower sales velocity and potential pricing friction.

3. The median listing price stands at $202,400, suggesting a notable gap between listing expectations and actual sold prices.

4. Elevated inventory levels may indicate a shift towards a more balanced market, with excess supply relative to sales activity.

5. The median market rent is $1,629, which is experiencing a slight decline, suggesting potential challenges for landlords.

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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.