Lathrup Village, MI 48076 Real Estate Market Report

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

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

Key Findings

1. The primary indicator of recent market value is the 246,500 median sold price, which suggests the representative recent sale level for SFR and condo transactions in the area; given the marketTemperature is hot, this sold-price level reinforces strong realized pricing despite elevated financing costs.
2. There is a meaningful spread between the 312,450 median listing price and the 246,500 median sold price, which may indicate seller pricing expectations exceed recent transaction levels and could create pricing friction during negotiations.
3. Liquidity appears constrained in realized transactions: the 285 median days on market signals slower sales velocity for properties that do transact, which may reflect cautious buyer behavior under the current elevated interest rate environment; treat longer days on market as a sign of reduced transaction pace rather than immediate market collapse.
4. Market fundamentals show upward momentum in both prices and rents—price year-over-year trend: up and rent year-over-year trend: up—but interest rate pressure is elevated, suggesting buyers face affordability headwinds even as landlords and sellers see strengthening nominal values (median price per square foot: 167; median market rent: 1,580).

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.