"In November, home prices fell slightly from the month before, with a median listing price of $107,900. The number of listings on the market remained practically unchanged 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 November. But the most recent data shows that the price per square foot decreased by 0.4% compared with the month before."
"So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in Motor City are smaller the national market. Detroit inventory In November, there were 2,817 homes for sale in Detroit, which was 0.6% more than the month before and 24.5% more than the same time last year. Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266. Time on market Homes in Detroit take an average of 60 days to sell, according to November figures. This is two days more than the previous month and one day more than the same month last year. For comparison, nationally homes spent an average of 64 days on the market in November."
Median listing price in Detroit declined slightly in November to $107,900. Price per square foot in Detroit fell 0.4% month-over-month, while the national price-per-square-foot decline was 1.2%, indicating smaller changes in Detroit than nationally. Detroit had 2,817 homes for sale in November, up 0.6% from the previous month and 24.5% year-over-year. National active inventory fell 2.5% to 1,072,266. Homes in Detroit averaged 60 days on the market, two days longer than the prior month and one day longer than last year, compared with a 64-day national average.
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