"In October, home prices rose moderately from the month before, with a median listing price of $108,625. The number of listings on the market grew 1.1% from last month, which is typical 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 October."
"And the most recent data shows that the price per square foot increased by 0.1% 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 outpacing the national market. Detroit inventory In October, there were 2,795 homes for sale in Detroit, which was 1.1% more than the month before and 21.7% more than the same time last year."
In October, Detroit median listing price rose moderately to $108,625. Listings increased 1.1% month-over-month and 21.7% year-over-year, reaching 2,795 homes for sale. Price per square foot in Detroit increased 0.1% month-over-month, while national price per square foot decreased 0.8%, indicating Detroit gains outpaced the national market. Active inventory nationwide remained essentially unchanged at 1,100,001. Homes in Detroit averaged 58 days on market, five days longer than the prior month and three days longer than a year earlier. Nationally, homes averaged 63 days on market in October.
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