The typical home value in
Michigan
is projected to be
$292,700
for the month of
August.
July’s
finalized data reported the typical value of a home in the
state
to be
$292,100—up
7.83%
over the previous 12 months.
Michigan
had
14,407
new listings and
13,090
listings that went under contract in
July,
increasing
the area’s total available inventory to
26,068—up
2.41%
from the previous month. Inventory is projected to have further
increased
in
August.
Of those
26,068
active listings,
34.26%
reduced their price in the month of
July.
The median listing price for homes in
Michigan
fell
2.54%
from
June
to
July,
bringing the current median listing price to
$287,900.
Based on projected data for
August,
listing prices may continue to
fall.
The number of days that homes have been on the market prior to going under contract
has been fairly steady
year-over-year. In
July 2025,
the median time for a listed property to go pending was
24
days, compared to
26
days in
July 2024.
In recent months the median number of days from listed to pending appears to be steady.
That trend is predicted to have carried through to this
August.