Michigan Real Estate & Property Data

Michigan Real Estate Market Trends
Last Updated: March 19, 2024

Get access to Michigan real estate data and housing market reports powered by the industry’s leading provider of real estate and property data, ATTOM. There have been 139,097 residential properties sold in the Michigan real estate market over the past 12 months. As of January 2024, the median home price in MI on single-family homes is $218,000. The median single-family home value for properties over the last 12 months is $234,402. Currently, the State of Michigan has 896 properties in foreclosure and 706 REOs (real estate bank owned).

See how easy it is to locate target properties in MI, build bespoke property reports, and create marketing lists from ATTOM’s Michigan real estate data.

Michigan Real Estate Market Trends
Total Residential Properties 3,849,658
Total Commercial Properties 301,961
Avg. Home Age (Single Family Home) 61 Years
Avg. Square Feet (Single Family Home) 1,586
Total 2024 Residential Sales (year-to-date) 9,344
% of Homes Seriously Underwater (Q1 2024) 0.87%
Total 2023 Residential Sales 129,753
% of Equity Rich Homes (Q1 2024) 29.75%
Effective 2023 Property Tax 1.06%
Total Foreclosure Filings (year-to-date) 896
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Michigan Real Estate Overview

There were 139,097 residential properties sold in the past year in Michigan. The median home value in Michigan is $234,402. There are a total of 3,849,658 residential properties in the MI.

Median Sales Price i
$218,000
(Jan 2024)
+9%
year-over-year
y-o-y
  • January '24 Jan '24 $218,000
  • December '23 Dec '23 $230,000
  • November '23 Nov '23 $230,000
  • October '23 Oct '23 $240,000
  • September '23 Sep '23 $247,500
  • August '23 Aug '23 $250,000
  • July '23 Jul '23 $250,000
  • June '23 Jun '23 $250,000
  • May '23 May '23 $240,000
  • April '23 Apr '23 $230,000
  • March '23 Mar '23 $224,000
  • February '23 Feb '23 $208,875
Median Down Payment i
$20,000
(Jan 2024)
+13.5%
year-over-year
y-o-y
  • January '24 Jan '24 $20,000
  • December '23 Dec '23 $24,250
  • November '23 Nov '23 $22,500
  • October '23 Oct '23 $25,300
  • September '23 Sep '23 $26,995
  • August '23 Aug '23 $27,490
  • July '23 Jul '23 $26,800
  • June '23 Jun '23 $25,000
  • May '23 May '23 $23,000
  • April '23 Apr '23 $20,000
  • March '23 Mar '23 $19,500
  • February '23 Feb '23 $17,500
Number of Homes Sold i
9,344
(Jan 2024)
-1.2%
year-over-year
y-o-y
  • January '24 Jan '24 9,344
  • December '23 Dec '23 8,436
  • November '23 Nov '23 10,611
  • October '23 Oct '23 11,474
  • September '23 Sep '23 11,946
  • August '23 Aug '23 13,510
  • July '23 Jul '23 12,031
  • June '23 Jun '23 13,182
  • May '23 May '23 11,447
  • April '23 Apr '23 9,331
  • March '23 Mar '23 10,821
  • February '23 Feb '23 7,506
Number of Purchase Loans i
5,988
(Jan 2024)
-2.9%
year-over-year
y-o-y
  • January '24 Jan '24 5,988
  • December '23 Dec '23 5,827
  • November '23 Nov '23 7,133
  • October '23 Oct '23 7,614
  • September '23 Sep '23 8,195
  • August '23 Aug '23 9,083
  • July '23 Jul '23 8,237
  • June '23 Jun '23 9,058
  • May '23 May '23 7,949
  • April '23 Apr '23 6,390
  • March '23 Mar '23 7,579
  • February '23 Feb '23 5,146
Number of REFI Loans i
5,308
(Jan 2024)
+3.8%
year-over-year
y-o-y
  • January '24 Jan '24 5,308
  • December '23 Dec '23 4,591
  • November '23 Nov '23 5,853
  • October '23 Oct '23 6,161
  • September '23 Sep '23 5,776
  • August '23 Aug '23 6,687
  • July '23 Jul '23 5,797
  • June '23 Jun '23 6,240
  • May '23 May '23 5,634
  • April '23 Apr '23 5,393
  • March '23 Mar '23 5,671
  • February '23 Feb '23 4,257
Number of HELOC Loans i
2,417
(Jan 2024)
-17.2%
year-over-year
y-o-y
  • January '24 Jan '24 2,417
  • December '23 Dec '23 2,458
  • November '23 Nov '23 3,073
  • October '23 Oct '23 3,328
  • September '23 Sep '23 3,261
  • August '23 Aug '23 3,648
  • July '23 Jul '23 3,183
  • June '23 Jun '23 3,460
  • May '23 May '23 3,715
  • April '23 Apr '23 2,939
  • March '23 Mar '23 3,051
  • February '23 Feb '23 2,495

Michigan Real Estate Market Overview

Last 30 days
  • County
    Median Est. Value
  • County
    Median Est. Value
  • County
    Median Est. Value

Michigan Foreclosure Activity

There were a total of 896 Michigan properties with a foreclosure filing in January 2024. Lenders started the foreclosure process on 896 Michigan properties and repossessed 706 Michigan properties through completed foreclosures (REOs) in January 2024.

Total Foreclosure Filings i
896
(Jan 2024)
+1%
year-over-year
y-o-y
  • January '24 Jan '24 896
  • December '23 Dec '23 800
  • November '23 Nov '23 884
  • October '23 Oct '23 993
  • September '23 Sep '23 856
  • August '23 Aug '23 900
  • July '23 Jul '23 750
  • June '23 Jun '23 999
  • May '23 May '23 718
  • April '23 Apr '23 925
  • March '23 Mar '23 1,046
  • February '23 Feb '23 810
Foreclosure Starts i
896
(Jan 2024)
+1%
year-over-year
y-o-y
  • January '24 Jan '24 896
  • December '23 Dec '23 800
  • November '23 Nov '23 884
  • October '23 Oct '23 993
  • September '23 Sep '23 856
  • August '23 Aug '23 898
  • July '23 Jul '23 750
  • June '23 Jun '23 999
  • May '23 May '23 718
  • April '23 Apr '23 925
  • March '23 Mar '23 1,046
  • February '23 Feb '23 810
Completed Foreclosures (REOs) i
706
(Jan 2024)
-17.7%
year-over-year
y-o-y
  • January '24 Jan '24 706
  • December '23 Dec '23 229
  • November '23 Nov '23 247
  • October '23 Oct '23 216
  • September '23 Sep '23 170
  • August '23 Aug '23 149
  • July '23 Jul '23 200
  • June '23 Jun '23 185
  • May '23 May '23 271
  • April '23 Apr '23 148
  • March '23 Mar '23 695
  • February '23 Feb '23 265
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