Detroit Housing Market Sets Record with $110K Median in August
Posted by Michael Perna on
Detroit’s housing market just did something many longtime residents might find hard to believe: the city’s median home sales price hit six figures. In August, the City of Detroit’s median sales price reached a record $110,000, a nearly 16% jump from a year ago. For a city where not long ago you could buy a house for the price of a used car, this milestone is a big deal. It signals a real estate comeback in the Motor City that has folks from Corktown to East English Village talking. What does a $110K median mean for Detroiters? Let’s dive into the numbers and the local insight, from soaring prices to cooling sales, to understand what’s happening in Metro Detroit’s housing market and what it means for families, buyers, and sellers alike.
A Milestone…
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