Michigan residential real estate highlights, home prices, and rental data from Zillow:
Michigan median listing prices and median price-per-square-foot for all home types:
- All homes: $132,000 at $97/SF.
- Single-family residential homes: $129,900 at $94/SF
- Condos: $169,900 at $119/SF
- Duplex and Triplex units: $110,000 at $49/SF
- 2-Bedroom homes: $99,999 at $93/SF
- 3-Bedroom homes: $139,900 at $98/SF
- 4-Bedroom homes: $279,500 at $117/SF
- 5+ Bedroom homes: $375,000 at $121/SF
Michigan median rental prices and median rental price-per-square-foot:
- All homes: $975 at $0.90/SF
- Single-family residential: $925 at $0.88/SF
- Condos: currently undisclosed at $1.04/SF
- Duplex and Triplex units: $875 at $1.03/SF
- 1-Bedroom homes: $735 at $1.12/SF
- 2-Bedroom homes: $963 at $0.98/SF
- 3-Bedroom homes: $1,095 at $0.92/SF
- 4-Bedroom homes: $1,800 at $0.87/SF
Michigan median sales prices and price-per-square-foot:
- All homes: $145,115 at $104/SF
- Single-family residential: $102/SF
- Condos: $116/SF
Michigan homes sold for a gain or loss:
- 80.2% of all homes sold above the previous home price
- 19.8% of all homes sold below the previous home price
- 10.4% of all listings had a price reduction this month with a median price cut of 4.9% (approximately $5,000)
- 10.4% of all single-family residential home listings had a price reduction this month with a median price cut of 5.0% (approximately $5,000)
- 9.8% of all condo listings had a price reduction this month with a median price cut of 4.0% (approximately $5,000)
3.7% of all homes in Michigan sold in the past 12 months.
The ZHVI (Zillow Home Value Index) rose by 2.9% over the past year, to $120,800.
Note: If any of the data is currently undisclosed, that is because the local jurisdictions currently do not share that data.
Discover more Michigan real estate news here or check out additional Zillow data for states such as Ohio and Indiana.
