Detroit, MI 48235 Real Estate Market Report

ZIP Code: 48235
Report Date: March 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: 48235) is $87,000, reflecting a market that has seen a slight decrease in home values. The neighborhood has decreased 8% since 2022, indicating a softening trend in the market. With a median listing price of $110,999.50, there is a notable gap between asking prices and actual sale prices, suggesting potential pricing friction as sellers adjust to current market conditions.

Market activity is characterized by elevated inventory levels, with a median days on market of 230 days, indicating slower sales velocity. This extended time frame may signal a shift in buyer sentiment, influenced by elevated interest rate pressure, which is currently impacting affordability across the region. Despite these challenges, the rental market remains robust, with a median market rent of $1,511, showing a year-over-year increase, which may provide some underlying strength amid the cooling sales environment.

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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

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.

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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 48235 area at 6.4% are 0.48% lower than the average 2026 origination rate of 6.88%, suggesting a cost opportunity for refinancing.

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. $87,000 is the median sold price, reflecting a market that has decreased 8% since 2022.

2. The median listing price of $110,999.50 indicates a significant gap between asking and selling prices, suggesting pricing friction.

3. With a median days on market of 230 days, the market is experiencing slower sales velocity and extended transaction times.

4. The rental market shows resilience, with a median market rent of $1,511, which has increased year-over-year, indicating strong demand for rental properties.

5. Elevated interest rate pressure is currently affecting buyer affordability, contributing to a softening in the home sales market.

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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.