Detroit, MI 48213 Real Estate Market Report

ZIP Code: 48213
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Detroit, MI (ZIP: 48213) is currently $55,000, reflecting a market that has shown signs of stability after a cooling phase. The neighborhood has increased up since 2023, indicating a potential for continued price appreciation. Despite this positive trend in sold prices, the market is characterized by elevated inventory levels, suggesting that buyers have a range of options and negotiating power in their transactions.

Transaction activity appears moderate, with properties spending a median of 189 days on market. This extended duration indicates a slower sales velocity, which may suggest that while prices are stabilizing, the market is not experiencing rapid turnover. The current median listing price stands at $70,000, creating a noticeable gap between asking and selling prices, which may reflect seller expectations versus market realities. Overall, the market temperature is neutral, indicating a balanced environment where both buyers and sellers may find reasonable opportunities.

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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 average around 6.01% APR, which is 0.82% lower than the 6.85% average recorded one year ago.

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 $55,000 suggests a market that is stabilizing after previous fluctuations.

2. With a median listing price of $70,000, there is a notable gap indicating potential pricing friction for sellers.

3. Properties are taking a median of 189 days on market, reflecting a slower sales velocity and extended transaction timelines.

4. The market temperature is currently neutral, suggesting a balanced environment for both buyers and sellers.

5. Rental rates are experiencing a down trend, with a median market rent of $1,629, indicating a renter-friendly environment.

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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.