Detroit, MI 48204 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

Key Findings

1. median sold price: 76,500 — Recent transaction evidence centers on this level, which, combined with a median listing price: 89,900, suggests meaningful pricing friction as sellers are listing materially above recent sale levels; this gap may indicate sellers need to adjust expectations to transact in the current market.
2. median days on market: 281 — Extended days on market point to slower sales velocity and reduced liquidity; given the marketTemperature is cold, this level of market time appears consistent with a buyer-favorable environment where transactions take longer to close.
3. median price per square foot: 70.33 and median market rent: 1,050 — Price and rent benchmarks show relatively low unit pricing and modest rental levels; with rentYoYTrend reported as down, investors should treat rental cashflow prospects cautiously and prioritize detailed rent comps before underwriting.
4. Price momentum and financing environment are headwinds: priceYoYTrend is reported as down and interestRatePressure is elevated, which together suggest continued downward price pressure and constrained buyer purchasing power; sellers and investors should expect protracted marketing timelines and should underwrite with conservative financing assumptions.

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.