Detroit, Michigan started 2024 with a total of 1,811 single-family homes on the market, with a median home price of $79,900 and an average price per square foot of $78.28. By the end of the year, inventory had increased to 1,874 homes on the market (+3%), with a median home price of $95,000 (+19%), and an average price per square foot of $85 (+9%).
At the start of 2024, the median days on market (DOM) was 77 days – by the end of the year, median DOM had decreased to 77 days.
Detroit, Michigan started the year with 36.61% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 36.34% of homes for sale had taken a price cut.
