Detroit, MI 48223 Real Estate Market Report

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.

Market Metrics

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.

Rental Market

Property Taxes

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.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. median sold price: $121,000 is the primary indicator of market value in 48223 and suggests recent transactions are occurring at a price point notably above the median listing price; this spread may indicate pricing friction between seller expectations and closed transactions and should be monitored when underwriting acquisition assumptions.
2. The gap between median listing price: $85,000 and the reported median sold price may indicate sellers are listing below or buyers are paying above typical asks in recent closings; this dynamic appears to reflect selective bidding on representatively priced inventory rather than broad market appreciation, so prioritize comparable closed sales when setting offer strategies.
3. The median days on market: 292 signals slower sales velocity and extended time-to-contract for listed SFR and condo inventory; this long market exposure may increase negotiation leverage for buyers and suggests sellers should consider price, condition, or marketing adjustments to improve liquidity.
4. Market fundamentals show a neutral temperature with prices and rents trending up: price year-over-year trend: up, rent year-over-year trend: up, and rent at median market rent: $950 — combined with moderate interest rate pressure (current 30-year fixed ~6.7% vs 6.2% earlier in 2026) this environment favors cautious, cash-flow-focused investors targeting assets with reliable rent conversions and conservative financing assumptions.

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.