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

As of February 2026, the real estate market in Detroit, MI (ZIP: 48221) is showing signs of stabilization, with the median sold price recorded at $164,499.50. This reflects a positive trend as the neighborhood has increased up since the previous year, indicating a recovery in market value and transaction activity. The median listing price stands at $154,900, suggesting that seller expectations are slightly below actual sold prices, which may create opportunities for negotiation in the current market.

Market activity appears to be characterized by elevated inventory levels, with a notable median days on market of 202 days, suggesting a slower sales velocity. This extended timeframe may indicate a cautious buyer sentiment, as the market temperature is classified as neutral. Overall, while there is a modest appreciation in home values, the market remains balanced with excess supply relative to sales activity, reflecting a need for strategic pricing and marketing efforts to enhance liquidity.

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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 rates in the Detroit, MI market average around 6.04% APR, which is 0.86% lower than the 6.90% average seen a year ago, presenting a favorable refinancing 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 of $164,499.50 indicates a strengthening market, reflecting positive buyer sentiment.

2. With a median listing price of $154,900, there is potential for negotiation as sellers adjust expectations to align with market realities.

3. The median days on market of 202 suggests a slower sales velocity, indicating that properties may require more time to sell in the current environment.

4. The market is experiencing up trends in rent year-over-year, which may enhance rental investment attractiveness in the area.

5. Current interest rates are at 6.04%, which is 0.86% lower than the previous year, presenting favorable refinancing opportunities for property owners.

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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.