|1 Bed Homes For Sale in Detroit (4)||$ 148,450|
|2 Bed Homes For Sale in Detroit (113)||$ 57,267|
|3 Bed Homes For Sale in Detroit (520)||$ 68,578|
|4 Bed Homes For Sale in Detroit (121)||$ 138,306|
|5+ Bed Homes For Sale in Detroit (61)||$ 1,181,278|
|1 Bed Multifamily For Sale in Detroit (11)||$ 61,545|
|2 Bed Multifamily For Sale in Detroit (8)||$ 237,363|
|3 Bed Multifamily For Sale in Detroit (2)||$ 337,500|
|4 Bed Multifamily For Sale in Detroit (2)||$ 12,500|
|5+ Bed Multifamily For Sale in Detroit (7)||$ 435,570|
Background on Detroit
Detroit is the largest and most heavily populated city in the state of Michigan as well as the largest city found on the United States – Canada border. Detroit is at the seat of Wayne County. The population here is estimated to be around 675,000 which make it the 23rd most populated city in the entire United States. If you look at the metropolitan area which is better known as Metro Detroit you will see that the population there is upwards of 4.3 million people. Detroit is most well known for its art, design and architecture. Detroit was founded in July of 1701 and incorporated in September of 1806. This area of Michigan is roughly 143 square miles and of that 143 square miles approximately 4 miles of that is water. The climate here in Detroit is a humid continental climate which is greatly influenced by the Great Lakes and the city. The winters here tend to be very cold but with only moderate snowfall. The summer months are usually very warm with temperatures exceeding 90 degrees several times throughout the warmer months. The hottest times here in Detroit runs from May through September. Precipitation in this area tends to occur during the months of May though June. There is approximately 33.5 inches of rainfall per year here. Thunderstorms are very frequent in Detroit and usually happen during the spring and summer.
Real Estate in Detroit
There are so many different kinds of housing styles here in Detroit. You will find everything from Tudors and Cape Cod style homes to Ranches and Condos here in Detroit. The market here has so much to offer, especially if you are looking for an eclectic mixture of housing styles. The prices here can range from less than $10,000 for a single family home that need TLC to those in excess of $1,000,000. It all depends on which neighborhood you are looking in. Most homes in Detroit are single family but there are several condo communities here as well if you are looking for a home that comes with amenities.
Employment in Detroit
There are several major corporations that are based here in Detroit as well as three Fortune 500 companies. Manufacturing, finance, health care and technology make up a majority of the jobs here. Automotive manufacturing is another big employer in this area. There are also some large companies here that are globally recognized. Little Caesars, Blue Cross Blue Shield of Michigan, Quicken Loans, General Energy and American Axle are just a few of those major employers.
Music and Entertainment in Detroit
Since the 1940’s live music has been a prominent feature of the nightlife here in Detroit. The nickname “Motown” was given to the city due to its influence on the music industry. If you are looking to go to a concert in Detroit there are a few places for you to go. You can head to the DTE Energy Music Theatre or The Palace of Auburn Hills as well as several other small clubs and jazz houses. The Theatre Venue Circuit is the performing arts portion of Detroit. Here you will find things like live music, theater, the orchestra as well as more than a dozen performing arts centers. The Theatre Venue Circuit is the second largest in the United States and also hosts several Broadway productions throughout the year.
Places to Visit in Detroit
- Downtown Detroit is a great place to visit if you want to take a walk, bike or try one of the areas up and coming restaurants. This area is very cosmopolitan and has tons to do if you are looking for a little adventure.
- Dearborn/Wayne is a historic and diverse section of Detroit. Here you find a mixture of Italian, Polish, Mexican and Arab-American neighborhoods. There is Middle Eastern Dining here as well as the only drive-in in the area.
- Greater Novi is a trendy area that is located around 45 minutes Northwest of Downtown Detroit. This place is known for its shopping as well as its fine dining and nightlife. This place is definitely a must see if you live in the Detroit area.
Detroit has reasonably priced real estate plus rich history within the music industry. There is so much to do here on any given day. If you are thinking of moving to Detroit don’t hesitate, this place has it all!
ByOwner.com offers For Sale By Owner listing services throughout the country. By posting home with ByOwner your property will get the same exposure you’d receive from a traditional real estate company. Our Detroit, Michigan Flat Fee MLS listing Service saves you from paying the traditional 6% commission charged by most real estate offices, but gives you the same worldwide exposure.
Your home will be found on the local MLS, plus all the major search engines and popular real estate portal sites, including: Trulia, Zillow, Realtor.com, MSN, AOL, Bing, Yahoo, and of course Google. Additionally when your home gets added to the MLS, your FSBO listing will listed alongside of the homes listed by ReMax, C-21, Coldwell Banker, ERA, Redfin, Movoto, Keller Williams and all the other nationwide brokerage sites. These sites often display “all” of the MLS postings, not just their own, which means your home will be on these sites also.
The average seller who uses our Flat Rate MLS Listing, will save over $15,000. We give you the tools and exposure you need as a ForSaleByOwner to compete with every other listing in the MLS. But you are in control of the savings and the fees you pay.
Currently Detroit has 1,501 properties on the market for sale. The inventory was last updated 04/11/2021. Of these properties, 820 single family homes are for sale by their owners in Detroit, and 233 condos are for sale by their owners in Detroit. The average price of the single family homes for sale in Detroit, is $318,776, the average condo price in Detroit, is $361,276. The average price per square foot of the active inventory is $98. This is based the living area square footage.
Over the last year, there have been 33,705 of properties sold in Detroit. Of these properties, 27,740 single family homes have sold by their owners in Detroit, and 2,497 condos have sold by their owners in Detroit. The average sales price of the single family homes sold in Detroit, is $166,741. Single family homes have been selling for 40 per square foot of living area. The average sales price of the condos for sale in Detroit, is $228,753. Condos have been selling for 144 per square foot of living area.
The most active subdivisions with listings for sale in Detroit, are: Albert Cranes Plat (plats) (13 For Sale), Larneds (deeds) (10 For Sale), Wayne County Condo Plan No 793 (park Shelton Condo) (9 For Sale), South Lafayette Park Sub (also Pg 64) (8 For Sale), Wayne County Condo Plan 807 (7 For Sale), Robert Oakmans Ford Hwy & Glendale (plats) (7 For Sale), Wayne County Condo Plan No 813 (7 For Sale), Frischkorns W Chicago Blvd (also P12 Plats) (7 For Sale), Lafayette Park Sub (7 For Sale), Wayne County Condo Plan No 673(lofts At Rivertown) (6 For Sale)
If you are thinking of selling your Detroit home, try our flat fee listing service, Our list fees start at $449, and may save you $15,000 in real estate commissions. Click here to start saving.
Disclaimer: Listing broker has attempted to offer accurate data, but buyers/lessees are advised to confirm all information IDX information is provided exclusively for consumers' personal, non-commercial use that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the MLS. The MLS may, at its discretion, require use of other disclaimers as necessary to protect Participants and/or the MLS from liability.
This data up-to-date as of 04/11/2021