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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

$142,468

AVERAGE PRICE OF 3,017 HOMES

$69,263

AVERAGE PRICE OF 30 DISTRESSED HOMES

$1,556,755

AVERAGE PRICE OF 31 MULTI-MILLION DOLLAR HOMES

$623,707

AVERAGE PRICE OF 65 NEWLY BUILT HOMES

$253,318

AVERAGE PRICE OF 75 HOMES WITH A POOL

$130,065

AVERAGE PRICE OF 92 REDUCED PRICE HOMES

Average Home

Average Price $142,468
Avg Bedrooms 3.04 beds
Avg Bathrooms 1.36 baths

Average Price by Bedrooms

1 bedroom $212,128
2 bedrooms $166,907
3 bedrooms $114,529
4 bedrooms $149,071
5 bedrooms $227,470
Detroit Home Price Trends
  11/2022 10/2022 9/2022 8/2022 7/2022
Total Listings 3,012 2,964 2,968 2,852 2,614
Average Price $143,236 $146,382 $148,426 $150,194 $153,565
Avg Price Change -2.20% -1.40% -1.19% -2.24% n/a
Median Price $84,158 $84,778 $84,748 $83,928 $84,739
Med Price Change -0.74% +0.04% +0.98% -0.97% n/a
Avg Bedrooms 3.04 beds 3.04 beds 3.04 beds 3.04 beds 3.05 beds
Avg Bathrooms 1.36 baths 1.37 baths 1.37 baths 1.38 baths 1.39 baths
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 3,017 $142,468 104 days
Distressed Homes 30 $69,263 108 days
Multi-Million Dollar Homes 31 $1,556,755 307 days
Newly Built Homes 65 $623,707 307 days
Homes with a Pool 75 $253,318 134 days
Reduced Price Homes 92 $130,065 55 days
Bellabay Realty Tri-Counties
37361 Eight Mile Rd
Livonia, MI 48152
248-274-6614

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