Detroit, MI 48205 Real Estate Market Report

ZIP Code: 48205
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The housing market in Detroit (48205) is currently characterized by a median sold price of $70,000, reflecting a decrease in market value compared to previous periods. This price point indicates a shift in buyer sentiment, as homes are selling slightly below asking prices, suggesting that sellers may need to adjust expectations to align with current market realities. The market has seen a neutral temperature, which implies a balance between supply and demand, though the longer median days on market of 191 days indicates a slower sales velocity, contributing to a cooling market environment.

Additionally, the median listing price stands at $76,950, creating a notable gap between asking and sold prices. This disparity may indicate pricing friction, as sellers are facing challenges in achieving their desired sale prices amidst a backdrop of elevated inventory levels. Despite these challenges in the sales segment, rental demand remains robust, with a median market rent of $1,629, reflecting a positive trend in rental pricing, which has seen year-over-year growth. This divergence between rental and sales markets may offer opportunities for investors looking to capitalize on rental demand while navigating the current sales 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

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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 the Detroit MI 48205 area at approximately 6.09% are 0.72% lower than the average rate of 6.81% seen earlier in 2026.

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 $70,000 indicates a decrease in market value, reflecting current buyer sentiment.

2. Homes are experiencing a median days on market of 191, suggesting a slower sales velocity and longer transaction timelines.

3. The median listing price of $76,950 creates a significant gap with sold prices, indicating potential pricing friction in the market.

4. Despite challenges in the sales segment, the median market rent of $1,629 shows a positive trend, suggesting growing rental demand.

5. The market temperature is currently neutral, indicating a balance between supply and demand, though elevated inventory levels may pressure pricing.

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Notable Properties

The following 6 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.