Is Detroit, MI 48242 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Detroit is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Detroit housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

Run the numbers for 48242

Prefilled for 48242Can I win this house?Multiple-offer likelihood for a listing Prefilled for 48242Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Allen Park 48101Seller’s market $145 /sq ft Belleville 48111Seller’s market $184 /sq ft Canton 48187Seller’s market $196 /sq ft Canton 48188Seller’s market $192 /sq ft Browse all markets →

Where Detroit is

Loading map…

Questions about Detroit real estate

What are property taxes in Detroit?

About 1.63% of a home’s value a year in Wayne County, or roughly $6,520 on a $400,000 home.

Local agents

See all agents in 48242 →

No sponsored agents in 48242 yet. Are you an agent here? Put your name in front of local buyers.

Save this ZIP (free account)

More tools for 48242

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Wayne County property taxes Wayne County loan limits Closing costs in Michigan Hottest ZIP codes in Michigan

Add this to your website

Free to use. Paste this code where you want the live widget to appear. It updates automatically. More widgets

JavaScript (recommended) iframe only

<div class="offerbacked-widget" data-widget="zip" data-zip="48242"><a href="https://offerbacked.com/market/48242">Detroit, MI 48242 housing market data from OfferBacked</a></div>
<script async src="https://offerbacked.com/widget.js"></script>

Sizes itself to fit. If your site builder removes scripts, use “iframe only”.

Preview Dark version

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology