Detroit, MI 48221 Real Estate Market Report

ZIP Code: 48221
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 Detroit, MI are 6.3% compared to the 6.0% average seen in early 2026, representing a 0.3% increase in borrowing costs for property owners in this market.

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 market value signal is the median sold price of $165,000, which represents the most recent transaction-level indicator of value and suggests that closed deals are pricing below asking levels relative to the median listing price of $180,000; this gap may indicate pricing friction between seller expectations and executed sale prices.

2. The market shows slower liquidity with a median days on market of 252 days, which points to prolonged time to contract and softening sales velocity that may increase buyer leverage in negotiations.

3. Inventory and transaction balance reads as elevated inventory relative to sales activity, which, combined with the cold market temperature, suggests increased negotiating power for buyers and excess supply relative to demand in the current cycle.

4. Macro pressures are relevant: price trends are flat year‑over‑year while rent trends are flat, and interest rate pressure is moderate (current 30‑year fixed rate reported at 6.3% vs a 6.0% early‑2026 average), a combination that implies neutral to cautious near‑term conditions for price appreciation and investor underwriting.

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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.