Detroit, MI 48206 Real Estate Market Report

ZIP Code: 48206
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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Detroit market are 6.42%, reflecting the prevailing interest rate environment for property owners in this area as of May 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 primary indicator of recent transaction value is the median sold price of 199,900, which, coupled with a down price year-over-year trend, suggests realized values are softening and sellers should expect negotiated outcomes below prior asking expectations.

2. The median listing price is 185,000, while the median sold price is 199,900, a persistent spread that may indicate pricing friction or selective buyer acceptance of higher-quality transactions rather than broad upward market momentum.

3. Median days on market of 261 points to slower sales velocity and extended marketing timelines; combined with the market temperature reported as cold, this suggests sellers should plan for longer holding periods and buyers can expect greater negotiation leverage.

4. Leasing fundamentals show a median market rent of 1,300 with rent year-over-year trend up, but elevated interest rate pressure at 6.42% (30-year fixed) is a headwind for purchase affordability and may sustain buyer caution in the near term.

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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.

Detroit, MI 48206 Real Estate Market Report

ZIP Code: 48206
Report Date: May 2026
Market Temperature: COLD
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo 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

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Liquidity metrics unavailable due to insufficient data quality.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Detroit market are 6.42%, reflecting the prevailing interest rate environment for property owners in this area as of May 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. median sold price is not provided in the available metrics, which limits precise valuation guidance; this absence likely reflects reporting gaps or a small sample of recent closed transactions and should prompt reliance on nearby comparable sales or expanded data pulls before committing to pricing strategies.

2. price year-over-year trend is down, indicating recent downward pressure on realized sale prices; sellers should expect tighter negotiations and buyers can justify offers that reflect observed declining transaction values.

3. market temperature is cold and the data suggest slower transaction velocity with elevated inventory relative to sales activity; this combination appears to create pricing friction, so sellers may need price concessions or pre-sale improvements to attract buyers while buyers can take a patient approach.

4. median market rent: 1,300 is supported by a up rent year-over-year trend, and with 30-year fixed mortgage rates at 6.42% under elevated interest rate pressure, investors should weigh rising rental income against higher financing costs when assessing buy-and-hold returns.

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Notable Properties

The following 1 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.