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Detroit, MI 48224 Real Estate & Property Data

Detroit, MI 48224 Real Estate Market Trends

Last Updated: April 22, 2025

A total of 1,086 residential properties have been sold over the past 12 months in 48224. With a median sales price of $110,000 in 48224 and a total of 7 foreclosures in Detroit, MI 48224. Discover market trends and get the granular level real estate data for Detroit, MI 48224 to keep your pulse on the housing market. Curate compelling home reports for Detroit, MI 48224 from reliable property records is easy using the ATTOM platform as a source for state-of-the-art property reports.

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Total Residential Properties 16,262

Total Commercial Properties 1,183

Avg. Home Age (Single Family Home) 85 Years

Avg. Square Feet (Single Family Home) 1,234

Total 2025 Residential Sales (year-to-date) 176

% of Homes Seriously Underwater (Q2 2025) 2.84%

Total 2024 Residential Sales 1,031

% of Equity Rich Homes (Q2 2025) 11.35%

Effective 2024 Property Tax 1.39%

Total Foreclosure Filings (year-to-date) 20

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Detroit, MI 48224 Real Estate Overview

There were 1,086 residential properties sold in the past year in Detroit, MI 48224. The median home value in Detroit, MI 48224 is $82,793. There are a total of 16,262 residential properties in the 48224.

Median Sales Price i

$110,000

(Feb 2025)

-6%

year-over-year

y-o-y

List Graph

1 year 3 years

5 years

February '25 Feb '25 $110,000
January '25 Jan '25 $129,500
December '24 Dec '24 $117,500
November '24 Nov '24 $120,000
October '24 Oct '24 $116,500
September '24 Sep '24 $104,500
August '24 Aug '24 $94,250
July '24 Jul '24 $103,000
June '24 Jun '24 $85,000
May '24 May '24 $127,500
April '24 Apr '24 $119,900
March '24 Mar '24 $99,000

Median Down Payment i

$11,700

(Feb 2025)

+78.9%

year-over-year

y-o-y

List Graph

1 year 3 years

5 years

February '25 Feb '25 $11,700
January '25 Jan '25 $7,450
December '24 Dec '24 $12,740
November '24 Nov '24 $10,000
October '24 Oct '24 $9,074
September '24 Sep '24 $7,859
August '24 Aug '24 $5,790
July '24 Jul '24 $13,950
June '24 Jun '24 $5,650
May '24 May '24 $4,854
April '24 Apr '24 $5,272
March '24 Mar '24 $4,400

Number of Homes Sold i

(Feb 2025)

+13.4%

year-over-year

y-o-y

List Graph

1 year 3 years

5 years

February '25 Feb '25 93
January '25 Jan '25 83
December '24 Dec '24 89
November '24 Nov '24 72
October '24 Oct '24 79
September '24 Sep '24 84
August '24 Aug '24 76
July '24 Jul '24 93
June '24 Jun '24 105
May '24 May '24 85
April '24 Apr '24 77
March '24 Mar '24 68

Number of Purchase Loans i

(Feb 2025)

+29.7%

year-over-year

y-o-y

List Graph

1 year 3 years

5 years

February '25 Feb '25 48
January '25 Jan '25 43
December '24 Dec '24 44
November '24 Nov '24 42
October '24 Oct '24 46
September '24 Sep '24 40
August '24 Aug '24 32
July '24 Jul '24 42
June '24 Jun '24 54
May '24 May '24 43
April '24 Apr '24 36
March '24 Mar '24 26

Number of REFI Loans i

(Feb 2025)

+65.2%

year-over-year

y-o-y

List Graph

1 year 3 years

5 years

February '25 Feb '25 38
January '25 Jan '25 65
December '24 Dec '24 42
November '24 Nov '24 31
October '24 Oct '24 44
September '24 Sep '24 38
August '24 Aug '24 30
July '24 Jul '24 36
June '24 Jun '24 32
May '24 May '24 49
April '24 Apr '24 27
March '24 Mar '24 18

Number of HELOC Loans i

(Feb 2025)

+166.7%

year-over-year

y-o-y

List Graph

1 year 3 years

5 years

February '25 Feb '25 8
January '25 Jan '25 5
December '24 Dec '24 6
November '24 Nov '24 4
October '24 Oct '24 8
September '24 Sep '24 8
August '24 Aug '24 6
July '24 Jul '24 7
June '24 Jun '24 5
May '24 May '24 6
April '24 Apr '24 3
March '24 Mar '24 9

Detroit, MI 48224 Real Estate Market Overview

Last 30 days

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Street
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Detroit, MI 48224 Foreclosure Activity

There were a total of 7 Detroit, MI 48224 properties with a foreclosure filing in February 2025. Lenders started the foreclosure process on 7 Detroit, MI 48224 properties and repossessed 4 Detroit, MI 48224 properties through completed foreclosures (REOs) in February 2025.

Total Foreclosure Filings i

(Feb 2025)

+40%

year-over-year

y-o-y

List Graph

1 year 3 years

5 years