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Lathrup Village, MI 48076 Real Estate Market Report

ZIP Code: 48076
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.


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.

Analysis Window
90 Days
Total Properties Analyzed
37
Active Listings
13
Sold Properties
24

Market Metrics

Median Listing Price
$325,000
Median Sold Price
$259,000
Median Price per Sqft
$166/sqft

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

Median Market Rent
$1,722

Property Taxes

Property Tax Rate
1.49%

Liquidity & Velocity

Median Days on Market
261
Sale-to-List Ratio
100.0%

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 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.

Price YoY Trend
down
Market Temperature
cold
Rent YoY Trend
up
Interest Rate Pressure
elevated

Key Findings

  1. The primary indicator of market value is 259,000 as the median sold price, which reflects recent transaction activity and suggests that finalized sale values are below asking expectations; price pressure appears to be present given the market context.

  2. The market shows prolonged sell-side friction with 261 median days on market, signaling slower sales velocity and reduced liquidity that may require sellers to adjust pricing or concessions; cold market temperature aligns with this slowdown.

  3. There is a clear listing-to-sale gap where the 325,000 median listing price exceeds the median sold price, indicating seller expectations are higher than recent transaction levels and may require downward adjustment to accelerate closings.

  4. Rental dynamics remain comparatively strong with 1,722 median market rent and an upward rent year-over-year trend; rent growth may support investor interest despite elevated interest rate pressure, which is noted as elevated.


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.

Recent Transactions

30120 Spring River Dr, Southfield, MI 48076
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

4 beds
2 baths
2,021 sqft
$400,000
Mar 1, 2026
$198/sqft/sqft
1653 days on market
28626 Sunset Blvd W, Lathrup Village, MI 48076
Market Benchmark

Sold at market average

3 beds
2 baths
2,353 sqft
$385,000
Feb 1, 2026
$164/sqft/sqft
969 days on market
17469 W 13 Mile Rd, Southfield, MI 48076
Market Benchmark

Sold at market average

4 beds
2 baths
2,123 sqft
$378,000
Mar 1, 2026
$178/sqft/sqft
252 days on market
29945 Everett St, Southfield, MI 48076
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

4 beds
1 baths
1,568 sqft
$265,000
Feb 1, 2026
$169/sqft/sqft
3868 days on market
29140 Candlewood Ln, Southfield, MI 48076
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
1 baths
1,371 sqft
$260,000
Mar 1, 2026
$190/sqft/sqft
262 days on market
20385 Harbor Ln, Southfield, MI 48076
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
1 baths
1,259 sqft
$249,900
Feb 1, 2026
$198/sqft/sqft
142 days on market
29905 Pleasant Trl, Southfield, MI 48076
Value

Sold below market average

3 beds
1 baths
1,189 sqft
$134,857
Feb 1, 2026
$113/sqft/sqft
30798 Brentwood St, Southfield, MI 48076
Market Benchmark

Sold at market average

2 beds
1 baths
738 sqft
$115,000
Feb 1, 2026
$156/sqft/sqft
197 days on market

Lathrup Village, MI 48076 Real Estate Market Report

ZIP Code: 48076
Report Date: May 2026
Market Temperature: COLD
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.


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.

Analysis Window
90 Days
Total Properties Analyzed
26
Active Listings
2
Sold Properties
24

Market Metrics

Median Listing Price
$205,000
Median Sold Price
$146,450
Median Price per Sqft
$124/sqft

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

Median Market Rent
$1,599

Property Taxes

Property Tax Rate
1.45%

Liquidity & Velocity

Median Days on Market
262
Sale-to-List Ratio
100.0%

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 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.

Price YoY Trend
down
Market Temperature
cold
Rent YoY Trend
up
Interest Rate Pressure
elevated

Key Findings

  1. 146,450 is the primary indicator of current market value—recent transactions show the neighborhood price direction is down, consistent with a colder market temperature that suggests a shift toward buyer-favorable conditions.

  2. 262 median days on market signals materially slower sales velocity and suggests increased time-to-contract; combined with the sample's characterization of relatively constrained active supply, this appears to create pricing friction for sellers.

  3. 124 median price per square foot provides a current market benchmark for comparative valuation and should be used for comp-driven pricing and underwriting decisions in this neighborhood.

  4. 1,599 median market rent is above county/state averages in local context and rent trend is up, while interest rate pressure is elevated—this combination may support rental demand but will constrain owner-occupant affordability and underwriting capacity.


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.

Recent Transactions

28801 Ranchwood Dr, Southfield, MI 48076
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

3 beds
2 baths
1,332 sqft
$255,000
Dec 1, 2025
$191/sqft/sqft
553 days on market
28440 Villa Ct N, Southfield, MI 48076
Premium

Sold above market average

2 beds
1 baths
1,198 sqft
$188,000
Mar 1, 2026
$157/sqft/sqft
19470 W 11 Mile Rd, Lathrup Village, MI 48076
Market Benchmark

Sold at market average

2 beds
2 baths
1,393 sqft
$175,000
Dec 1, 2025
$126/sqft/sqft
30240 Southfield Rd Apt 174, Southfield, MI 48076
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
1,217 sqft
$140,000
Dec 1, 2025
$115/sqft/sqft
149 days on market
30268 Southfield Rd Apt 229, Southfield, MI 48076
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
956 sqft
$130,000
Jan 1, 2026
$136/sqft/sqft
180 days on market
19130 W 11 Mile Rd, Lathrup Village, MI 48076
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
2 baths
1,625 sqft
$128,928
Dec 1, 2025
$79/sqft/sqft
30228 Southfield Rd Apt 166, Southfield, MI 48076
Market Benchmark

Sold at market average

2 beds
2 baths
946 sqft
$115,000
Mar 1, 2026
$122/sqft/sqft
2852 days on market
15846 W 11 Mile Rd # 27, Southfield, MI 48076
Value

Sold below market average

2 beds
2 baths
1,173 sqft
$99,000
Jan 1, 2026
$84/sqft/sqft
116 days on market

Investment Analysis

Compare rental income potential against ownership costs and benchmark against market averages.

Rent vs Cost to Own

Monthly rental income vs estimated ownership cost

$14/mo
48076 Avg Rent
48076 Cost to Own
Rent$1,722
Own$1,708

20% down, 6.5% rate, 1.5% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

48076 Avg nightly rate
48076 Avg occupancy (days/year)
Nightly rate$167/night
Occupancy139 of 365 days

Data Sources

Real estate market data & public records, and GemHaus® proprietary models.

Report generated: 5/1/2026

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