Detroit, MI 48228 Real Estate Market Report

ZIP Code: 48228
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.

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Key Findings

1. The primary market signal is the median sold price of 85,000, which represents the most reliable indicator of realized value for recent transactions and suggests pricing near the low-to-mid market for the ZIP code; representative recent sale context indicates sellers should price to match closed comps rather than rely on asking price optimism.

2. There is a notable gap between the median listing price of 80,000 and the median sold price of 85,000, which may indicate listing strategies are testing the market while buyers are still completing transactions at slightly higher levels; flat price trend caution applies since the price year-over-year trend is reported as flat.

3. Liquidity is slow based on the median days on market of 247, which signals prolonged marketing periods and suggests buyers have more negotiating leverage and sellers should anticipate extended holding time; cold market temperature aligns with slower sales velocity and increased buyer leverage.

4. Market context shows a median price per square foot of 85.48 and median market rent of 1,200, with rent trends flat and interest rate pressure described as moderate—this combination suggests constrained appreciation potential in the near term and supports conservative underwriting assumptions for investors; moderate interest rate pressure

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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.