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Detroit

Why you'd want to live in Detroit

Detroit, located in southeast Michigan on the Detroit River between Lake Huron and Lake Erie, is the largest city in the state and the tenth-largest in the country. It is the oldest major city west of the original colonies and the only city in the US that allows you to travel south into Canada. It began as a fur-trading town in the 1700s, Detroit took full advantage of its prime geographical location in the 1800s, becoming a major shipping and manufacturing center. With an influx of workers from Europe and the American South, including many African Americans, Detroit was an industrial juggernaut in the early 1900s. During the two World Wars, Detroit was a leading supplier to the military. The birthplace of the automobile and the home of the "Big 3" (General Motors, Ford and Chrysler), Detroit remains the nucleus of the industry despite competition from Japan and Europe. One of the largest manufacturing cities in the country, Detroit is a leader in steel, fabricated-metal, chemicals, paper products, food and beverages. The health industry is also among the city's leading employers.

Detroit Market Report

$203,351

AVERAGE PRICE OF 4,689 HOMES

$209,252

AVERAGE PRICE OF 4,259 DISTRESSED HOMES

$2,224,716

AVERAGE PRICE OF 113 MULTI-MILLION DOLLAR HOMES

$541,985

AVERAGE PRICE OF 75 NEWLY BUILT HOMES

$276,216

AVERAGE PRICE OF 61 HOMES WITH A POOL

$165,791

AVERAGE PRICE OF 144 REDUCED PRICE HOMES

Average Home

Average Price $203,351
Avg Bedrooms 2.23 beds
Avg Bathrooms 1.57 baths

Average Price by Bedrooms

1 bedroom $196,349
2 bedrooms $144,404
3 bedrooms $123,799
4 bedrooms $179,830
5 bedrooms $237,706
Detroit Home Price Trends
  8/2024 7/2024 6/2024 5/2024 4/2024
Total Listings 4,552 4,465 4,458 4,406 n/a
Average Price $205,941 $205,493 $204,432 $201,517 n/a
Avg Price Change +0.22% +0.52% +1.45% n/a n/a
Median Price $109,770 $109,207 $104,385 $100,000 n/a
Med Price Change +0.52% +4.62% +4.39% n/a n/a
Avg Bedrooms 2.19 beds 2.19 beds 2.17 beds 2.14 beds n/a
Avg Bathrooms 1.57 baths 1.57 baths 1.55 baths 1.53 baths n/a
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 4,689 $203,351 73 days
Distressed Homes 4,259 $209,252 74 days
Multi-Million Dollar Homes 113 $2,224,716 94 days
Newly Built Homes 75 $541,985 87 days
Homes with a Pool 61 $276,216 81 days
Reduced Price Homes 144 $165,791 57 days
Bellabay Realty Tri-Counties
37361 Eight Mile Rd
Livonia, MI 48152
248-274-6614

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