Lathrup Village, MI 48076 Real Estate Market Report

ZIP Code: 48076
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Lathrup Village, MI, is characterized by a median sold price of $260,500, reflecting a stable market environment. The neighborhood has increased up since 2023, indicating a positive trend in property values. Despite this appreciation, the market is experiencing elevated inventory levels, suggesting a potential imbalance between supply and demand, which may lead to pricing friction in the near term.

The median days on market stands at 232, indicating a slower sales velocity, which further emphasizes the excess supply relative to sales activity. The median listing price of $299,900 presents a notable gap from the sold price, suggesting that sellers may have elevated expectations compared to current market realities. Overall, the market temperature is assessed as neutral, indicating a balanced environment where neither buyers nor sellers have a distinct advantage.

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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 Lathrup Village, MI are averaging 6.57% compared to approximately 5.39% when loans originated 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. The median sold price of $260,500 reflects a stable market, with prices showing signs of up since 2023.

2. With a median days on market of 232, the market is experiencing slower sales velocity, indicating weak liquidity.

3. The median listing price of $299,900 suggests potential pricing friction, as it exceeds the sold price significantly, indicating seller expectations may be elevated.

4. A median market rent of $1,840 supports strong rental demand, contributing to the overall stability of the local economy.

5. The market temperature is currently assessed as neutral, suggesting a balanced environment with no clear advantage for buyers or sellers.

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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.