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 real estate market in Detroit, MI (ZIP: 48213) shows a median sold price of $54,900, reflecting a stable market condition. This price point indicates a modest appreciation trend, as the market appears to be maintaining its value amidst varying economic pressures. The median listing price stands at $75,000, which suggests a notable gap between seller expectations and actual transaction values, potentially indicating pricing friction in the market.

Current market conditions reveal a median days on market of 183, suggesting a slower sales velocity and a need for sellers to adjust their pricing strategies to align more closely with buyer expectations. The overall market temperature is assessed as neutral, indicating a balanced environment where inventory levels are relatively elevated compared to sales activity, yet with no significant downward pressure on prices. Rental rates have shown a slight decline, with a median market rent of $1,629, which may reflect softening demand in the rental sector.

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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 for property owners in the Detroit MI 48213 area average around 6.09% to 6.13%, which is notably lower than the 6.87% average seen a 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 $54,900 indicates a stable market with potential pricing friction due to the gap with the median listing price of $75,000.

2. A median days on market of 183 suggests slower sales velocity, which may require sellers to reassess their pricing strategies.

3. The market temperature is neutral, indicating balanced conditions with elevated inventory levels relative to sales activity.

4. Rental rates are experiencing a down trend, with a median market rent of $1,629, suggesting softening demand in the rental market.

5. The property tax rate stands at 1.73%, which is a critical factor for potential buyers considering long-term ownership costs.

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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.