Detroit, MI 48235 Real Estate Market Report

ZIP Code: 48235
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

---

Executive Overview

As of February 2026, the real estate market in Detroit, MI (ZIP: 48235) is characterized by a median sold price of $107,000, reflecting a notable shift in market dynamics. The neighborhood has decreased 8% since 2022, indicating a downward trend in property values. This decline suggests a transition towards a more buyer-friendly environment, as evidenced by the slower sales velocity and elevated inventory levels relative to sales activity.

The median days on market stands at 186, which points to a slower transaction pace, further supporting the notion of a cooling market. Despite these challenges, rental demand remains robust, with the median market rent at $1,629, showing resilience in the rental sector even as sales prices decline. Elevated interest rates and economic uncertainty continue to exert pressure on housing activity, contributing to the overall market temperature being classified as neutral.

---

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

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

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 around 5.88% in the Detroit MI 48235 area are slightly lower than the current market average of 6.12%, suggesting property owners may have locked in a marginally favorable rate recently.

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

---

Key Findings

1. The median sold price of $107,000 reflects a significant 8% decrease since 2022, indicating a down trend in property values.

2. With a median days on market of 186, the market is experiencing slower sales velocity, suggesting a shift in buyer behavior.

3. The median listing price of $119,950 shows a gap compared to the sold price, indicating potential pricing friction as sellers adjust expectations.

4. Despite declining sales prices, the median market rent has increased to $1,629, highlighting a growing rental demand in the area.

5. Current economic conditions, including elevated interest rates, contribute to a neutral market temperature, suggesting a balanced environment for buyers and sellers.

---

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.