Detroit, MI 48221 Real Estate Market Report

ZIP Code: 48221
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: 48221) is currently characterized by a median sold price of $161,000, reflecting a stable market condition. With the absence of historical sold price change data, recent trends suggest a cautious environment. The median listing price stands at $164,900, indicating a slight pricing friction between seller expectations and buyer realities.

Market activity shows 215 days on market, which suggests a slower sales velocity and elevated inventory levels relative to sales activity. The overall market temperature is neutral, indicating a balanced environment, while the rental market continues to be renter-friendly with a median market rent of $1,629. Elevated interest rate pressure may also be influencing buyer behavior, contributing to the current market dynamics.

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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 market at approximately 6.01% are lower than the 6.55% average seen earlier in 2026, presenting a cost-saving opportunity for property owners.

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 is $161,000, indicating stable pricing in the market.

2. With 215 days on market, the market is experiencing slower sales velocity, suggesting potential pricing adjustments.

3. The median listing price of $164,900 shows a slight gap compared to sold prices, indicating potential pricing friction.

4. The market temperature is neutral, reflecting a balanced environment between buyers and sellers.

5. The median market rent of $1,629 highlights a renter-friendly environment, with year-over-year rent trends reported as down.

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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.