Is Detroit, MI 48201 a buyer’s or seller’s market?

The Detroit housing market right now

In the three months ending August 31, 2026, 5% of homes in Detroit, MI 48201 sold above their list price, the typical home went under contract in 210 days and there were 8.2 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 20 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold more slowly (27 days then) and the median sale price rose 19% to $414,821. Overall, Detroit is less competitive than a year ago, which gives buyers more room.

Within Wayne County, homes here sell more slowly than in any other ZIP code in the county, and sell less often over asking than in 98%. On our competition score, Detroit ranks #509 of 510 MI ZIP codes with enough sales (score 6 out of 100).

Nearby, buyers who want less competition could look at Dearborn 48120 (0% sold over asking), while Dearborn 48128 (72% sold over asking) and Livonia 48154 (59% sold over asking) are even more competitive.