Why Metro Detroit Home Prices Jumped 10.3% in November 2024
Posted by Michael Perna on
Metro Detroit's real estate market demonstrated remarkable resilience and dynamism in November 2024, with home prices experiencing their largest year-over-year increase of the year. The median sale price in the region climbed by an impressive 10.3%, reaching $323,500 compared to $293,250 in November 2023. This growth is reflective of persistent demand outpacing supply, shaping a competitive landscape for buyers and sellers alike.
A Historic Surge in Home Prices
The 10.3% increase in Metro Detroit's median sale price marks a defining moment for the market in 2024. This surge was driven by significant gains across the region, with Wayne County taking the lead in absolute price growth. The county's median home price rose from $169,000 to $191,000,…
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