Detroit, MI 48227 Real Estate Market Report
ZIP Code: 48227
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.
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
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.
Rental Market
Property Taxes
Liquidity & Velocity
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 the 48227 area are 6.3% compared to the 6.0% average seen earlier in 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The primary market indicator, the median sold price, is $85,000, and given the cold market temperature (cold) combined with a long median days on market of 259, recent transactions suggest slower sales velocity and downward price pressure.
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The median listing price is $86,200, modestly above the median sold price of $85,000, which may indicate pricing friction between seller expectations and completed transactions.
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Analyzed supply appears to reflect relatively constrained active supply in the sample and slower transaction volume, as evidenced by the long median days on market of 259, which suggests reduced liquidity and longer time-to-contract for typical SFR and condominium listings.
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Rental and financing context: the median market rent is $1,200 and rent year-over-year trend is down, while interest rate pressure is moderate and current 30-year fixed mortgage rates in the area are 6.3% compared to 6.0% earlier in 2026 — a modest tightening in financing costs that may further weigh on buyer affordability.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Detroit, MI 48227 Real Estate Market Report
ZIP Code: 48227
Report Date: May 2026
Market Temperature: COLD
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
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
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.
Rental Market
Property Taxes
Liquidity & Velocity
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 the 48227 area are 6.3% compared to the 6.0% average seen earlier in 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The neighborhood's median sold price is 44,000, which should be treated as the primary indicator of realized market value and recent transaction activity; recent pricing direction is down, suggesting sellers may need to adjust expectations to complete sales.
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The market temperature is cold, indicating slower sales velocity and declining price momentum; this appears consistent with elevated inventory relative to sales activity and may indicate increased negotiating leverage for buyers.
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The median price per square foot is 73.39, which frames local pricing on a size-adjusted basis and may highlight pricing friction between seller expectations and what buyers are paying in the current soft market.
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Rental and financing context: the median market rent is 1,000 while rent year-over-year trend is down; interest rate pressure is moderate, and Current 30-year fixed mortgage rates in the 48227 area are 6.3% compared to the 6.0% average seen earlier in 2026, a dynamic that may restrain buyer affordability and further dampen price recovery.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Sold above market average
Sold above market average
Sold above market average
Sold above market average
Sold above market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.7% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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