"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."
"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."
Median listing price in Detroit in September was $106,500, reflecting a moderate month-over-month decline. Listings increased 5.9% from the prior month and were 20.4% higher year-over-year, totaling 2,765 homes for sale. Price per square foot in Detroit fell 1.7% month-over-month, exceeding the national per-square-foot decrease of 0.8%. Homes in Detroit averaged 53 days on market, one day faster than the previous month and equal to last September, compared with a national average of 62 days. National active inventory rose 0.2% to 1,100,407 listings.
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