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Detroit Metro 1 Of 20 Hot Real Estate Markets: 13 Recent Sale Prices

Low housing inventory means higher prices, making Metro Detroit the sixth-hottest real estate market, according to realtor.com.

Detroit Metro 1 Of 20 Hot Real Estate Markets: 13 Recent Sale Prices

DETROIT, MI — The Metro Detroit real estate market is outperforming an earlier realtor.com forecast that ranked the area 14th among 25 markets to watch in 2017. Realtor.com, Patch’s real estate partner, recently ranked Detroit metro No. 6 on its list of the 20 hottest real estate markets for June, up from No. 18 in May.

The Detroit metro market ranked behind Vallejo, California; San Francisco, California; Kennewick, Washington; Sacramento, California; and Columbus, Ohio. The ranking was based on June sales data, which showed limited growth in housing demand and high prices. Realtor.com said that nationwide median home prices recently pushed above $250,000 for the first time, and was expected to hit $275,000 — an increase of 9 percent over the past year.

“The housing market has now gone 24 months in a row seeing inventory drop on a yearly basis, the longest streak in over two decades,” Javier Vivas, manager of economic research at realtor.com, said in a statement. The shortage is hitting even more markets, he added — eight out of every 10 have fewer homes for sale now than this time last year.

In its 2017 forecast for the Metro Detroit market, realtor.com said the median house sale in the area was likely to be $195,000, a 5.17 percent growth in price over the year prior and that sales were expected to increase 6.22 percent.

Below are are 13 recent sales from around Metro Detroit. For more information and photos, click into the links.

356 Lake Park Drive, Birmingham
Price: $1,900,450
Square Feet: 4,789
Lot Size: .56 acre
Bedrooms:
Baths: 6

592 Henrietta St., Birmingham
Price: $975,000
Square Feet: 4,049
Lot Size: 5,227 square feet
Bedrooms: 5
Baths: 4

5966 Murfield Drive, Rochester Hills
Price: $748,000
Square Feet: 5,955
Lot Size: .66 acre
Bedrooms: 4
Baths: 6

728 Vanderpool Drive, Troy
Price: $549,000
Square Feet: 3,700
Lot Size: Unavailable
Bedrooms: 5
Baths: 5

40 Hadsell Drive, Bloomfield Hills
Price: $710,000
Square Feet: 4,032
Lot Size: .38 acre
Bedrooms: 4
Baths: 5

12221 Howland Park Drive, Plymouth
Price: $640,000
Square Feet: 4,335
Lot Size: .69 acre
Bedrooms: 4
Baths: 4

47550 Aberdeen Drive, Novi
Price: $647,000
Square Feet: 3,646
Lot Size: .5 acre
Bedrooms: 4
Baths: 5

1364 Berkshire Road, Grosse Pointe Park
Price: $600,000
Square Feet: 3,425
Lot Size: Unavailable
Bedrooms: 5
Baths: 3

17784 Merganser Drive, Clinton Township
Price: $330,000
Square Feet: 2,704
Lot Size: 8,276 square feet
Bedrooms: 4
Baths: 3

100 N. Center St., Unit 104, Royal Oak
Price: $295,200
Square Feet: 1,352
Lot Size: Not applicable
Bedrooms: 2
Baths: 2

5941 Appoline St., Dearborn
Price: $255,000
Square Feet: 2,072
Lot Size: 4,443 square feet
Bedrooms: 3
Baths: 4

22568 Van St., St. Clair Shores
Price: $194,000
Square Feet: 1,850
Lot Size: Unavailable
Bedrooms: 2
Baths: 2

2046 Oakman Blvd., Detroit
Price: $61,000
Square Feet: 2,622
Lot Size: 6,098 square feet
Bedrooms: 4
Baths: 3

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