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Local News

Home Prices Up Slightly Across Michigan

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According to data from Redfin, home prices in Michigan were up 5.3% compared to last year, selling for a median price of $245,300. On average, the number of homes sold was down 6.3% compared to this time last year. 

The data suggests most of the state is currently a sellers’ market, matching nationwide trends. Houses in Michigan are spending a median of 24 days on the market this year, fewer days than last year, suggesting demand is high.

Further proof of a strong sellers’ market shows that this year, 35.9% of homes in Michigan sold above list price, up 5.1 points compared to last year. There were only 31.8% of homes that had price drops, up from 31% of homes in October last year.