In September, home prices fell moderately from the month before, with a median listing price of $106,500.
The number of listings on the market grew 5.9% from last month, which is a bigger increase than normal for this time of the year in Detroit, and homes are also selling close to the same pace as the same time last year.
Home prices in Detroit
Typically, home price per square foot in Detroit tend to rise in September. But the most recent data shows that the price per square foot decreased by 1.7% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in Motor City are larger the national market.
Detroit inventory
In September, there were 2,765 homes for sale in Detroit, which was 5.9% more than the month before and 20.4% more than the same time last year.
Meanwhile, active inventory across the nation rose by 0.2% from last month to 1,100,407.
Time on market
Homes in Detroit take an average of 53 days to sell, according to September figures.
This is one day less than the previous month and the same as the same month last year.
For comparison, nationally homes spent an average of 62 days on the market in September.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in Detroit, MI.