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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

$137,449

AVERAGE PRICE OF 3,209 HOMES

$72,286

AVERAGE PRICE OF 18 DISTRESSED HOMES

$1,696,468

AVERAGE PRICE OF 22 MULTI-MILLION DOLLAR HOMES

$521,995

AVERAGE PRICE OF 61 NEWLY BUILT HOMES

$401,959

AVERAGE PRICE OF 57 HOMES WITH A POOL

$130,110

AVERAGE PRICE OF 122 REDUCED PRICE HOMES

Average Home

Average Price $137,449
Avg Bedrooms 3.02 beds
Avg Bathrooms 1.32 baths

Average Price by Bedrooms

1 bedroom $213,946
2 bedrooms $165,657
3 bedrooms $111,026
4 bedrooms $147,604
5 bedrooms $237,281
Detroit Home Price Trends
  8/2023 7/2023 6/2023 5/2023 4/2023
Total Listings 3,075 2,959 2,863 2,737 2,622
Average Price $140,410 $145,068 $149,034 $148,687 $141,931
Avg Price Change -3.32% -2.73% +0.23% +4.76% +3.32%
Median Price $85,000 $87,485 $87,221 $84,949 $80,536
Med Price Change -2.92% +0.30% +2.67% +5.48% +0.75%
Avg Bedrooms 3.03 beds 3.05 beds 3.04 beds 3.03 beds 3.04 beds
Avg Bathrooms 1.33 baths 1.35 baths 1.36 baths 1.36 baths 1.35 baths
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 3,209 $137,449 102 days
Distressed Homes 18 $72,286 151 days
Multi-Million Dollar Homes 22 $1,696,468 244 days
Newly Built Homes 61 $521,995 261 days
Homes with a Pool 57 $401,959 126 days
Reduced Price Homes 122 $130,110 59 days
Bellabay Realty Tri-Counties
37361 Eight Mile Rd
Livonia, MI 48152
248-274-6614

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