Michigan housing market
Statewide listing data for September 2026, the latest month Realtor.com® Economic Research has published, with two years of history. Checked October 8, 2026.
Michigan at a glance
MidwestSource: Realtor.com® Economic Research (Michigan, September 2026). Asking prices and active listings, not closed sales.
What the data says
- There are 15.8% more homes for sale in Michigan than a year ago.
- The median asking price is roughly flat over the past year.
- 22% of active listings have had at least one price reduction.
- The typical listing spends 47 days on the market, 2 days longer than a year ago.
Repeat sales and appraisals of the same homes, published quarterly with a lag of about two months.
Two-year trend
Median listing price, Michigan
| Period | Value |
|---|---|
| 2024-09-01 | $298K |
| 2024-10-01 | $290K |
| 2024-11-01 | $280K |
| 2024-12-01 | $269K |
| 2025-01-01 | $260K |
| 2025-02-01 | $265K |
| 2025-03-01 | $275K |
| 2025-04-01 | $290K |
| 2025-05-01 | $300K |
| 2025-06-01 | $317K |
| 2025-07-01 | $317K |
| 2025-08-01 | $300K |
| 2025-09-01 | $300K |
| 2025-10-01 | $298K |
| 2025-11-01 | $285K |
| 2025-12-01 | $277K |
| 2026-01-01 | $269K |
| 2026-02-01 | $270K |
| 2026-03-01 | $275K |
| 2026-04-01 | $284K |
| 2026-05-01 | $300K |
| 2026-06-01 | $311K |
| 2026-07-01 | $310K |
| 2026-08-01 | $300K |
| 2026-09-01 | $300K |
Homes for sale, Michigan
| Period | Value |
|---|---|
| 2024-09-01 | 22K |
| 2024-10-01 | 23K |
| 2024-11-01 | 22K |
| 2024-12-01 | 20K |
| 2025-01-01 | 18K |
| 2025-02-01 | 16K |
| 2025-03-01 | 16K |
| 2025-04-01 | 17K |
| 2025-05-01 | 20K |
| 2025-06-01 | 22K |
| 2025-07-01 | 23K |
| 2025-08-01 | 25K |
| 2025-09-01 | 25K |
| 2025-10-01 | 25K |
| 2025-11-01 | 25K |
| 2025-12-01 | 22K |
| 2026-01-01 | 19K |
| 2026-02-01 | 18K |
| 2026-03-01 | 18K |
| 2026-04-01 | 19K |
| 2026-05-01 | 22K |
| 2026-06-01 | 24K |
| 2026-07-01 | 26K |
| 2026-08-01 | 28K |
| 2026-09-01 | 29K |
Listings follow a seasonal pattern each year; compare a month with the same month a year earlier.
Michigan compared with the U.S.
Compare with another state| Measure | Michigan | United States |
|---|---|---|
| Median listing price | $299,900 (Unchanged y/y) | $419,250 (−1.4% y/y) |
| Homes for sale | 29,277 (+15.8% y/y) | 1,161,615 (+5.4% y/y) |
| Median days on market | 47 days (+2 days y/y) | 61 days (Unchanged y/y) |
| Listings with a price cut | 21.7% (+1.9 pts y/y) | 20.8% (+0.9 pts y/y) |
| Median list price per sq ft | $188 (+2.4% y/y) | $223 (−1.7% y/y) |
Sources: Realtor.com® Economic Research (Michigan, September 2026); Realtor.com® Economic Research (United States, September 2026). “y/y” is the change from the same month a year earlier.
An affordability illustration
Run your own numbersThe inputs
- Median listing price (September 2026)$299,900
- Down payment20% ($59,980)
- Loan amount$239,920
- Rate: 30-year fixed, national (Week of Oct 1, 2026)7.28%
- Median household income, Michigan (2025)$76,800
This is an illustration, not a lender calculation. It leaves out property taxes, homeowners insurance, mortgage insurance and HOA dues, which can add several hundred dollars or more a month. The rate is a national average for strong-credit borrowers; your rate may differ.
Sources: Realtor.com® Economic Research (Michigan, September 2026); Freddie Mac Primary Mortgage Market Survey, via FRED, Federal Reserve Bank of St. Louis (United States, Week of Oct 1, 2026); U.S. Census Bureau, Current Population Survey, via FRED, Federal Reserve Bank of St. Louis (Michigan, 2025).
Editor’s notes on Michigan
Written March 2026; conditions may have changedMichigan's housing market is a study in contrasts. Detroit proper offers some of the most dramatic value-to-appreciation ratios in the country as the city's revival continues. Grand Rapids is a legitimate, diversified hot market — one of the most competitive in the Midwest. Ann Arbor remains consistently high-demand driven by University of Michigan. EV transition is a major economic tailwind for the entire state.
For buyers
Grand Rapids is one of the best-value hot markets in the Midwest. Ann Arbor has perpetual demand. Detroit's Midtown and Corktown are the highest-conviction urban value plays in America right now.
For sellers
Grand Rapids and Ann Arbor sellers are in excellent position. Detroit proper is gaining — present well and price right for rapid movement.
These notes are background written by our editors in March 2026, before the data above. Where they differ, the dated figures on this page are more current.