Is Detroit, MI 48216 a buyer’s or seller’s market?

The Detroit housing market right now

In the three months ending August 31, 2026, 20% of homes in Detroit, MI 48216 sold above their list price, the typical home went under contract in 16 days and there were 16.6 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 5 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking rose from 14%, homes sold faster (56 days then) and the median sale price rose 22% to $214,907. Overall, Detroit is more competitive than a year ago, so tougher for buyers.

Within Wayne County, homes here sell faster than in 74% of the county’s ZIP codes, and sell less often over asking than in 75%.

Nearby, buyers who want less competition could look at Dearborn 48120 (0% sold over asking) or Detroit 48201 (5% sold over asking), while Dearborn 48128 (72% sold over asking) and Livonia 48154 (59% sold over asking) are even more competitive.