Detroit Housing Market

Detroit home prices continued to rise in July even as home sales slowed and more homes came to market. Buyers had more choices than a year ago, but higher prices continued to put pressure on affordability.

Detroit home sales fell 2.2% from a year ago in July to 4,879, as the busy early-year and spring homebuying season came to an end. That was 111 fewer sales than in July 2025, when 4,990 homes changed hands.

Even as more homes became available, some buyers continued to feel the impact of higher housing costs. Single-family home sales fell 2.1% to 4,054, while condo sales dropped 5.8% to 670. Townhome sales moved in the opposite direction, rising 10.7% to 155.

The number of homes for sale rose 12.2% year over year to 16,131 listings in July, adding 1,751 homes compared with a year earlier. By comparison, inventory nationwide rose 4.4%.

New listings climbed 13.2% to 7,538 homes, bringing more choices to buyers. Even so, inventory remained 25.1% below July 2019 levels, when 21,533 homes were for sale.

Months of supply reached 3.9, up from 3.5 a year earlier, but remained below the national level of 4.7 months. Homes also spent a median of 41 days on the market, up from 39 days a year earlier but still 15 days less than the national median. Together, the measures showed Detroit’s market was becoming more balanced while buyers still faced less supply than in the national market.

Inventory growth was widespread across property types. Single-family listings rose 10.7% to 13,235. Townhome inventory increased 13.6% to 502, while condo inventory posted the largest gain, rising 20.5% to 2,394.

View the latest homes for sale in Detroit.

The median home sale price reached $315,000 in July, up 5% from a year earlier. That outpaced the national annual price increase of 2.6%. On a dollar basis, Detroit home prices rose $15,000 over the past year, compared with a $10,000 increase nationally.

Even with those gains, Detroit remained below the national median home price of $400,000. The median Detroit home price was 21.3% below the national median.

Price growth extended across housing types. The median single-family home price rose $12,100 to $320,000, while townhome and condo prices each increased 7.7%.

The median home sale price in Detroit increased by 5% compared to the same time last year, while the national median price rose by 2.6%.

Detroit median home prices rose by $15,000 year over year on a nominal basis in July to $315,000. Meanwhile, the national median home price increased by $10,000 to $400,000.

Detroit was the 35th highest-priced housing market among the top 40 largest markets last month. The Detroit median home price of $315,000 was 21.3% below the national median home price. Detroit's median home price in July is the highest observed price for any month in the market.

The median price of Detroit single-family homes rose by $12,100 over the past year to $320,000, while the median townhome price grew by 7.7%, and the median condo price rose by 7.7%.

The number of homes for sale in Detroit increased by 12.2% in July compared to the same time last year, while national homes for sale rose by 4.4%.

Detroit homes for sale rose by 1,751 year over year in July to 16,131 homes for sale. Detroit ranked 10th, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in July.

Detroit homes for sale were below their pre-pandemic levels in the month of July. Detroit homes for sale were 25.1% below the July 2019 total of 21,525.

Detroit single-family homes for sale grew by 10.7% to 13,235 in July. In comparison, townhomes for sale rose by 13.6% to 502, and condos for sale increased by 20.5% to 2,394.

The number of home sales in Detroit decreased by 2.2% in July compared to the same time last year, while national home sales rose by 2.9%.

Detroit home sales declined by 111 year over year on a nominal basis in July to 4,879. For context, 4,990 sales closed in Detroit in July 2025.

Detroit ranked 35th for the annual change in home sales out of the top 40 U.S. markets in July on a percentage basis. This year's July decrease of 2.2% compares to the 5.1% year over year increase in July 2025.

Detroit single-family sales decreased by 2.1% in July to 4,054. In comparison, townhome sales rose by 10.7% to 155, and condo sales fell by 5.8% to 670.

For questions and commentary about this report:

Adrian Brizuela, Associate Director of Market Analytics at CoStar and Homes.com, based in Chicago, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Adrian Brizuela

Associate Director of Market Analytics

Homes.com

abrizuela@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Detroit during July 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Days on Market

The median number of days from initial listing to closing of properties whose closing occurred during the month. This data includes detached, attached, and condominium homes. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Months of Supply (MOS)

Months of Supply (MOS) is equal to active listings divided by homes sold in a given month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Sale to List Price Ratio

The sale-to-list price ratio is the ratio of the sale (closing) price to the original list price, whose closing occurred during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.