Detroit, MI 48228 Real Estate Market Report

ZIP Code: 48228
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Detroit, MI (ZIP: 48228) is currently $79,000, reflecting a stable market with slight appreciation trends. This represents a robust indicator of actual market transactions, showcasing a balanced environment where buyers and sellers are not under extreme pressure. The neighborhood has increased up since 2023, indicating a positive trajectory in home values.

Market conditions reveal a moderate transaction volume with 185 days as the median days on market, suggesting slower sales velocity. Elevated inventory levels are present, indicating excess supply relative to sales activity. With a median listing price of $85,000, there is a notable pricing gap that may suggest some friction in buyer expectations versus market realities, but overall, the market appears to be stabilizing.

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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 48228 area at approximately 5.875% are 0.72% lower than the national average of 6.59% seen earlier in 2026.

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. $79,000 is the median sold price, indicating a stable market with slight appreciation trends.

2. The median days on market is 185, suggesting slower sales velocity and potential pricing friction.

3. Elevated inventory levels indicate excess supply relative to sales activity, which may impact negotiation dynamics.

4. The median market rent is $1,629, reflecting stability in rental rates amidst a balanced environment.

5. Current mortgage rates at 5.875% are lower than the national average, potentially enhancing affordability for buyers.

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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.