Is Detroit, MI 48235 a buyer’s or seller’s market?

The Detroit housing market right now

In the three months ending August 31, 2026, 31% of homes in Detroit, MI 48235 sold above their list price, the typical home went under contract in 43 days and there were 5.9 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 104 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 35%, homes sold more slowly (31 days then) and the median sale price rose 18% to $119,948. Overall, Detroit is less competitive than a year ago, which gives buyers more room.

Within Wayne County, homes here sell more slowly than in 77% of the county’s ZIP codes, and sell less often over asking than in 57%. On our competition score, Detroit ranks #422 of 510 MI ZIP codes with enough sales (score 39 out of 100).

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.