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Metro Detroit Real Estate News

What are the Average Detroit Real Estate Prices?

Metro Detroit Single Family Homes ended 2017 with an average price of $191,146.

Primary Year Sale Price, Average
2013 $135,123
2014 $149,936
2015 $166,351
2016 $177,695
2017 $191,146

Metro Detroit Housing Market Predictions 2018

This month’s Metro Detroit Real Estate Market for July 2018 continues to hold down frustrated Buyers while Sellers still see a shining bright spot: Homes for sale inventory is down 19.8% from 2017 and, with fewer homes selling, the median sales price is up 7.0%.

The chatter about housing price bubbles has increased this summer, as observers attempt to predict the next shift in the residential real estate market. It is far too early to predict a hard shift away from higher prices and lower inventory, but the common markers that caused the last housing market downturn are essentially present…demand is still outpacing what is available for sale in many markets.

— Realcomp II, LTD.

July saw a total of 8,921 condominiums and single family homes sell throughout the multiple listing service. Comparing the number of sales last year for July 2017, this is up 3.3% for single-family homes, and up 8.3% for condos. Read More Here!

Others Have Asked
If you are thinking of selling and wonder how much your house might sell for in today’s Metro Detroit Real Estate Market, use this instant home value estimate or call 248.785.3737. We serve all of Metro Detroit and Ann Arbor, and we have partners across the nation as well.

Newest Metro Detroit Homes For Sale

Average Price Range by County

Metro Detroit Home Sale Averages for each county for last year ending in 2017. These price averages are for single family homes only.

County Sale Price, Average
Livingston $268,850
Oakland $255,993
Macomb $168,642
Wayne $132,649

Existing Single Family Home Sales Year to Date

Here are the latest number of home sales in Metro Detroit. These statistics are based on the counties of Oakland, Wayne, Macomb and Livingston.

Other’s have favored our detailed Oakland County Market Report.

Month Sales, Number of
Jan 3,306
Feb 3,185
Mar 4,126
Apr 4,320
May 5,036

Existing Condo Sales Year to Date

Month Sales, Number of
Jan 697
Feb 685
Mar 952
Apr 1,041
May 1,133

Average Time on Market for Metro Detroit Listings

At the end of 2017, the average days on market was 31 days, and up through May 2018, it takes an average 34 days to sell a house in Metro Detroit.

Chart displays past 5 years plus 2018 through May for the average number of days to sell a home in Metro Detroit.

Active Number of Listings in Metro Detroit for the past 5 years through 2017

At the beginning of June 2018, there are currently 9,235 single family homes on the market, leaving 671 less Metro Detroit properties for sale than this time last year.

Active Listings, Number of
Month 2013 2014 2015 2016 2017 2018
Jan 16,518 18,464 18,478 13,435 9,761 8,636
Feb 15,788 18,286 18,020 12,939 9,294 8,194
Mar 15,092 18,445 18,945 12,518 9,119 7,912
Apr 15,615 20,269 21,019 12,477 9,008 8,380
May 16,255 21,352 22,397 13,132 9,906 9,235
Jun 15,227 23,219 23,599 13,590 10,887
Jul 16,547 24,073 24,140 13,825 11,543
Aug 17,382 23,534 23,827 14,108 11,939
Sep 18,160 23,639 20,978 13,686 11,749
Oct 19,372 23,042 17,279 12,796 11,350
Nov 21,019 21,410 16,215 11,662 10,502
Dec 18,832 19,274 14,542 10,159 9,306

Average List to Close Price

At the end of 2017, the average list to close price was 99.1% indicating a strong seller’s market.

Real Estate Statistics

The REALTORS® Confidence Index (RCI) survey gathers monthly information from REALTORS® about
local real estate market conditions, characteristics of buyers and sellers, and issues affecting
homeownership and real estate transactions. The National Association of Realtors® (NAR) report presents key results about market transactions from February 2018.

Graph shows current conditions of both buyers and sellers nationwide via this National Association of Realtors current conditions confidence report.

Illustration heatmap of the United States showing median days on market by each State.

Heatmap illustration of the Realtor Seller Traffic Index by State.

  • 37 Median Days on Market
  • 2.2 Average Number of Offers Written per Client
  • 29% of Residential Sales were 1st Time Home Buyers
  • 24% Cash Sales
  • Twenty-one percent of sellers offered incentives such as paying for closing costs (nine percent),
    providing a warranty (nine percent), undertaking remodeling (three percent), and providing appliances (one percent).
  • Sales of distressed properties (foreclosed or sold as a short sale) accounted for four percent of sales.
  • REALTORS® report “low inventory” and “interest rate” as the major issues affecting transactions in
    February 2018.

Oakland County Median Price Range (past 5 years)

The Median Price range for single family homes in Oakland County, MI at the end of 2017 was $221,000, and through May 2018 is $230,000.

Primary Year Sale Price, Median
2013 $149,900
2014 $168,750
2015 $182,000
2016 $200,000
2017 $221,000
2018 $230,000

Macomb County Market Values

The Median Price range for single family homes in Macomb County, MI at the end of 2017 was $153,000, and through May 2018 is $155,000.

Primary Year Sale Price, Median
2013 $93,000
2014 $114,900
2015 $128,000
2016 $140,000
2017 $153,000
2018 $155,000

Wayne County Housing Market

The Median Price range for single family homes in Wayne County, MI at the end of 2017 was $104,900, and through May 2018 is $105,301.

Primary Year Sale Price, Median
2013 $49,900
2014 $63,000
2015 $81,500
2016 $90,000
2017 $104,900
2018 $105,301

Livingston Market Values

The Median Price range for single family homes in Wayne County, MI at the end of 2017 was $250,000, and through April 2018 is $259,000.

Primary Year Sale Price, Median
2013 $178,000
2014 $199,900
2015 $215,000
2016 $235,000
2017 $250,000
2018 $259,000

Metro Detroit Market Reports from 2018

Oakland County Market Reports

Market Reports from 2017

Metro Detroit Homes For Sale by Price and Feature

Year-to-Year Comparison of Residential Homes Median Sales Prices

Chart displaying year to year median prices for Metro Detroit home sales over the last 10 years through May 2018.

Year-to-Year Comparison of Condo Median Sales Prices

Chart displaying year to year median prices for Metro Detroit condo home sales over the last 10 years through May 2018.

Metro Detroit Waterfront Homes For Sale

Here are homes for sale on the water in Metro Detroit and the Lakes Area.

Search Homes for Sale in Metro Detroit Counties
Oakland CountyWayne CountyWashtenaw CountyMacomb County
Livingston CountyLapeer CountySt. Clair County

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