Is Dearborn Heights, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Dearborn Heights has remained a Seller's Market.
Housing Prices in Dearborn Heights, MI
How much do homes in Dearborn Heights, MI cost?
Median Sold Price
$191,583
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Dearborn Heights was $191,583 in April 2024, up 12.7% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $54.5K | $67K | +22.9% |
2 Bedrooms | $115K | $125K | +8.7% |
3 Bedrooms | $174.7K | $200K | +14.4% |
4 Bedrooms | $238.5K | $310K | +30.0% |
5+ Bedrooms | $521K | $209.9K | -59.7% |
Summary: Dearborn Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.9%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 30%, and 5+ bedroom homes decreased by 59.7%.
Median Sold Price Compared To Nearby Cities
Inkster | $88K | $100K | +13.6% |
Allen Park | $185K | $210K | +13.5% |
Dearborn Heights | $169.9K | $191.5K | +12.7% |
Dearborn | $220K | $246.9K | +12.2% |
Redford | $155K | $165K | +6.5% |
Housing Supply in Dearborn Heights, MI
How many homes are available in Dearborn Heights, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
125 | 138 | +10.4% |
Summary: The Dearborn Heights real estate market had 138 homes for sale in April 2024, a 10.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 18 | 21 | +16.7% |
3 Bedrooms | 85 | 90 | +5.9% |
4 Bedrooms | 16 | 21 | +31.3% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Dearborn Heights housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
46 | 44 | -4.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 44 homes were sold or pending in Dearborn Heights in April 2024, down by 4.3% month-over-month. Of the 44 sold homes, 39% were sold under asking, 9% were sold at asking, and 52% were sold over asking.
Days on Market for Dearborn Heights, MI
How long does it take to sell a home in Dearborn Heights, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
55 Days | 25 Days | -53.6% |
Summary: Homes in Dearborn Heights had an average of 25 days on market in Apr 2024, down by 53.6% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 44 homes were sold in Dearborn Heights; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.