Trying to figure out the Detroit real estate market isn’t the easiest task, but we do know that good properties don’t last long on the market here. We also know that people love to look at Detroit real estate. Perhaps that’s what makes the Motor City one of the hottest markets in the country.
Realtor.com released their list of the “hottest” markets in the country for January 2018, according to how long houses stay on the market and by listing views in mid to large markets. 13 of the top 20 metro areas are in California (perhaps many are curious as to the astronomically high prices in the San Francisco/San Jose areas). Detroit and Columbus, Ohio were the only midwestern cities to crack the top 20.
This is the second month in a row for Detroit-Warren-Dearborn at the #19 spot. The median age of inventory—or how long the homes last on the market—came in at 68 days for Detroit.
As we’ve noted in the past, the Detroit housing stock varies greatly across neighborhoods. We keep searching for those elusive, fairly affordable move-in ready homes amid the high-priced condos in downtown and Midtown and complete fixer-uppers or foreclosures in many other parts of the city. It seems like many more people are doing the same.