Detroit, MI 48204 Real Estate Market Report

ZIP Code: 48204
Report Date: May 2026
Market Temperature: COLD
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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Market Trends & Context

Understanding Market Temperature

A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

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Key Findings

1. The neighborhood's primary market indicator is the median sold price: $89,900, which represents the most recent transaction-level market value and suggests pricing is tracking at that level rather than at asking price; this aligns with cooling prices.

2. There is a notable liquidity slowdown reflected by the median days on market: 261, which suggests slower sales velocity and that properties are taking substantially longer to transact compared with typical market cycles; this may indicate pricing friction or stronger buyer negotiation leverage.

3. Seller expectations are closely aligned with realized transactions—the median listing price: $89,900 matches the median sold price—however, the sample shows elevated inventory relative to sales activity, which may prolong time to sale and maintain downward price pressure.

4. Price and rent fundamentals show softness: the median price per square foot: 67.47 and the median market rent: $1,000 sit alongside broader indicators of weakening conditions (price year-over-year trend: down and rent year-over-year trend: down), while market temperature: cold and interest rate pressure: elevated suggest continued headwinds for near-term appreciation.

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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.