Overall home sales in metro Detroit were up 1.6 percent in September compared to last year while prices rose 5.6 percent. // Stock photo
Metro Detroit’s housing market remained steady in September, even as the city of Detroit experienced a slowdown with home sales down 15.6 percent year-over-year, according to the latest REMAX of Southeastern Michigan Housing Report.
Overall home sales in the region were up 1.6 percent to 4,069 from 4,006 compared to September 2024, but down from 4,295 in August.
Sales were up 7 percent in Macomb County, up 5.6 percent in Livingston County, and up 4.8 percent in Oakland County. Detroit’s 15.6 percent drop coincided with a 4.8 percent dip in Wayne County.
“September saw a modest uptick in home sales compared to last year, signaling that opportunities remain as prices stabilize and buyers take a more measured and selective approach to the process,” says Jeanette Schneider, president of REMAX of Southeastern Michigan in Troy.
Prices increased 5.6 percent region-wide to $327,500 compared to last September but dipped from $332,500 last month.
Livingston County led the way with a median sales price of $405,000, up 11 percent from $365,000 a year ago.
Wayne County moved up 7.5 percent to $215,000 from 200,000 in 2024. Macomb County’s $275,000 was up 5.8 percent from $260,000 and Oakland County saw an increase of 5.6 percent with $380,000 from $360,000 in September 2024. Despite the drop in sales, prices in Detroit increased 4.4 percent to $95,000 from $91,000.
Additional highlights from the latest report include:
— Average days on market is 28 days — up two days from last year.
— Months’ supply of inventory sits at 3.0 months — up 7 percent from 2.8 last year.
— Pending sales are up 6 percent year-over-year.
“As we move into October, seasonal shifts and uncertainty surrounding the government shutdown could influence activity, but overall, the market continues to show steady resilience,” Schneider says.