Market statistics · Live · updated November 5, 2026
Michigan housing market statistics
Michigan housing market statistics for October 2026: median list price, homes for sale, days on market, price cuts and the monthly payment on a typical home, statewide and for every Michigan metro, side by side with the U.S. Pulled from the publishers every day and free to quote with a link.
Jump to: Michigan metros · vs. the U.S. · What's different in Michigan · Charts
Key takeaways
The Michigan housing market in October 2026
- Michigan's median list price was $299,900 in October 2026, up 0.5% from a year earlier, the 42nd highest of the 50 states and D.C.
- 30,291 homes were for sale, 19.2% more than a year earlier and 26.9% below the same month in 2019. That inventory change ranks 10th of 51.
- The typical listing sat 51 days (U.S.: 63), and 21.6% of listings had a price cut (U.S.: 20.5%).
- In the Detroit-Warren-Dearborn, MI metro, the state's largest by households, the median list price was $269,999 (up 0.8%) with 12,548 homes for sale.
- Principal and interest on Michigan's median-priced listing, 20% down at Freddie Mac's 7.24%, is about $1,635 a month (U.S. median: $2,263).
- On the FHFA house price index, Michigan home values were up 4.6% over the year to the quarter starting April 2026.
Metros
Michigan metro housing statistics, October 2026
The 25 largest of the 35 Michigan metro areas in Realtor.com's data, largest first. Tap a column to sort. The small line is the change from a year earlier.
| Detroit-Warren-Dearborn, MI | $269,999+0.8% | $185 | 12,548+16.1% | 45 | 22.1% |
| Grand Rapids-Wyoming-Kentwood, MI | $395,000+1.3% | $214 | 2,368+25.2% | 43 | 24.7% |
| Lansing-East Lansing, MI | $240,000−5.9% | $148 | 1,090+25.0% | 47 | 21.2% |
| Flint, MI | $210,000+5.1% | $145 | 1,242+19.2% | 51 | 24.2% |
| Ann Arbor, MI | $440,000−7.8% | $236 | 948+28.1% | 51 | 18.6% |
| South Bend-Mishawaka, IN-MI | $309,900+4.3% | $171 | 879+21.6% | 47 | 26.0% |
| Kalamazoo-Portage, MI | $317,900−4.2% | $169 | 708+31.8% | 43 | 23.5% |
| Saginaw, MI | $179,900+5.9% | $120 | 505+4.6% | 54 | 22.9% |
| Muskegon-Norton Shores, MI | $299,900+11.2% | $188 | 512+13.8% | 48 | 21.5% |
| Traverse City, MI | $525,000−3.6% | $312 | 903+15.2% | 64 | 20.3% |
| Monroe, MI | $310,525−2.2% | $188 | 292+9.8% | 39 | 15.9% |
| Niles, MI | $399,000−1.8% | $209 | 601+36.0% | 57 | 23.3% |
| Jackson, MI | $249,900−4.9% | $150 | 457+29.5% | 57 | 24.4% |
| Battle Creek, MI | $240,000+3.2% | $149 | 349+22.9% | 45 | 25.3% |
| Holland, MI | $459,750−9.8% | $243 | 332+21.6% | 50 | 20.5% |
| Bay City, MI | $179,000−12.7% | $125 | 290+38.8% | 51 | 22.2% |
| Adrian, MI | $289,900+3.2% | $163 | 267+22.5% | 59 | 19.0% |
| Midland, MI | $357,500+9.6% | $169 | 212+36.8% | 45 | 26.2% |
| Marinette, WI-MI | $259,000+13.9% | $168 | 307+38.9% | 51 | 20.0% |
| Marquette, MI | $386,000+0.9% | $212 | 208+70.5% | 53 | 23.5% |
| Owosso, MI | $231,400−2.6% | $151 | 161+47.7% | 50 | 22.5% |
| Mount Pleasant, MI | $277,450+16.0% | $143 | 150+14.5% | 60 | 20.3% |
| Sturgis, MI | $285,000+8.6% | $160 | 172+29.3% | 66 | 18.8% |
| Cadillac, MI | $289,900+10.8% | $173 | 194+40.6% | 64 | 20.5% |
| Hillsdale, MI | $319,950+10.7% | $168 | 121−17.1% | 54 | 18.4% |
Metro areas are the Census Bureau's core-based statistical areas; a metro that crosses a state line is listed in each state it covers.
Side by side
Michigan vs. the U.S.
| October 2026 | Michigan | U.S. | Rank of 51 |
|---|---|---|---|
| Median list price | $299,900 | $415,000 | 42nd |
| Price per sq ft | $186 | $222 | – |
| Homes for sale | 30,291 | 1,183,520 | 11th |
| Inventory change, 1 yr | +19.2% | +7.4% | 10th |
| Median days on market | 51 | 63 | 39th |
| Price cut share | 21.6% | 20.5% | 20th |
| Pending ratio | 0.39 | 0.32 | – |
Rank of the 50 states and D.C., 1 = highest. Pending ratio = pending listings divided by active listings.
Affordability
The monthly payment on a median-priced Michigan home
$1,635 a month
Principal and interest on $299,900, 20% down, 30-year fixed at 7.24%. A year earlier, the same math came to $1,458: $177 a month more now. On the U.S. median listing it is $2,263.
Taxes, insurance, HOA dues and mortgage insurance are extra; in Michigan they can change the real monthly cost a lot from one county to the next. A Total Cost of Ownership report adds them for a specific home.
Local knowledge
What's different about buying and selling in Michigan
In Michigan a buyer's property tax can be much higher than the seller's, and the exemption doesn't transfer. Four things to explain.
Taxable value uncaps when a home sells
Under Proposal A, a home's taxable value can rise no more than inflation or 5% a year (2.7% for 2026) while the owner keeps it. The year after a sale it resets to half of market value, so a buyer's tax bill can be much higher than the seller's.
Buyers must file their own Principal Residence Exemption
An owner-occupied home is exempt from up to 18 mills of school operating tax if the owner files a PRE affidavit by June 1 (summer levy) or November 1 (winter levy). The seller's exemption doesn't carry over to the buyer.
Transfer tax, with a seller exemption
The state transfer tax is $3.75 per $500 (0.75%) plus a county tax of $0.55 per $500. Sellers of a homesteaded home can be exempt from the state portion if its state equalized value is no higher than when they bought it.
Flat income tax: 4.25% for 2026
Michigan's income tax stays at 4.25% for 2026; some cities, such as Detroit, add a city income tax.
General information for agents, checked against the sources below on October 23, 2026. It is not legal or tax advice; rules change, so confirm details for a specific transaction with the right professional.
Trends
How Michigan's numbers have moved
Michigan median list price
Michigan homes for sale
Michigan median days on market
Share of Michigan listings with a price cut
Michigan house price index (FHFA)
30-year fixed mortgage rate
Questions
Michigan housing questions, answered with today's numbers
What is the median home price in Michigan?
The median list price in Michigan was $299,900 in October 2026, per Realtor.com. That is the asking price of the middle listing; closed-sale medians come from the MLS or county records.
How many homes are for sale in Michigan?
30,291 active listings in October 2026, 26.9% below the same month in 2019.
Is Michigan a buyer's or seller's market?
Statewide, listings took a median 51 days and 21.6% had a price cut in October 2026. Markets differ a lot by metro and price range; the metro table on this page shows each one, and an Area Market Report shows one neighborhood.
What is the monthly payment on a median-priced home in Michigan?
About $1,635 a month for principal and interest on $299,900 with 20% down at 7.24%. Property taxes, insurance and HOA dues are extra and vary widely across Michigan.
Free to quote. Use any number on this page with its month and source, and link to agentcos.com/market-statistics/michigan/.
Want this for one neighborhood?
These are statewide and metro listing numbers. An Area Market Report gives you 12 months of closed sales for one subdivision, neighborhood or ZIP, built from your MLS export, with your logo on it.
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Sources
- Realtor.com Economic Research, Residential Real Estate Data, state and metro monthly files (median list price, price per square foot, active and pending listings, days on market, price-reduced share). realtor.com/research/data
- Freddie Mac, Primary Mortgage Market Survey, weekly. freddiemac.com/pmms
- Federal Housing Finance Agency, House Price Index for Michigan (all transactions), quarterly, through FRED. fred.stlouisfed.org
- Michigan Legislature, “MCL 211.27a,” accessed October 23, 2026. www.legislature.mi.gov
- Michigan Legislature, “MCL 211.7cc Principal residence exemption,” accessed October 23, 2026. www.legislature.mi.gov
- Michigan Legislature, “MCL 207.526,” accessed October 23, 2026. www.legislature.mi.gov
- Michigan Department of Treasury, “State individual income tax rate for 2026 tax year determined,” April 15, 2026. www.michigan.gov
Listing numbers describe asking prices and inventory, not closed sales. The page refreshes from the publishers at least twice a day; each publisher updates on its own schedule.