Detroit, MI 48206 Real Estate Market Report

ZIP Code: 48206
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the Detroit, MI housing market reflects a median sold price of $152,950, indicating a stable yet competitive environment. The neighborhood has shown an upward trend in prices, with a median listing price of $202,450, suggesting that sellers may be adjusting expectations to align with actual transaction values. This gap between listing and sold prices may indicate pricing friction, as sellers navigate a market characterized by elevated interest rates and moderate sales activity.

Market velocity appears to be tempered, with median days on market at 260, signaling slower transaction volume. Elevated inventory levels are present, creating a more balanced market where sellers are beginning to offer concessions. Despite these conditions, the local economic resilience supports long-term demand, suggesting that while immediate sales may be slower, the underlying fundamentals remain strong.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Detroit MI market around 6.04% are notably lower than the early 2026 average of 6.59%, presenting a cost-saving opportunity for refinancing.

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. $152,950 is the median sold price, reflecting a stable market despite elevated interest rates.

2. $202,450 is the median listing price, indicating potential pricing friction as sellers adjust expectations.

3. The median days on market of 260 suggests slower sales velocity, which may impact liquidity in the short term.

4. Elevated inventory levels indicate excess supply relative to sales activity, leading to a more balanced market.

5. The median market rent stands at $1,629, which has shown a down trend year-over-year, reflecting changing rental dynamics.

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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.