Detroit, MI

Metro Detroit homebuyers face higher prices but more inventory, lower mortgage rates

Published

6 months ago

September 15, 2025

Metro Detroit homebuyers face higher prices but more inventory, lower mortgage rates

Eric Vance knows a good house when he sees one.

The 54-year-old contractor from Southfield, who has spent years buying and flipping homes, recently toured a property in Redford Township that immediately caught his attention.

“It was the fireplace and that kitchen,” he said. “Because I am a family man, and it put me right where I needed to be and what I needed to see.”

Buyers like Vance who are looking for a new home are navigating the housing market at a time when inventory, prices and days on the market are on the rise, even as interest rates begin to trend down. Metro Detroit’s housing market saw prices climb modestly in August, even as sales slowed, with the market heading into a seasonal slowdown.

The median sales price across Metro Detroit rose 4.4% year-over-year to $332,500 across Wayne, Oakland, Macomb and Livingston counties, according to the latest RE/MAX of Southeastern Michigan Housing Report. The supply of inventory increased to 2.8 months in August, compared with 2.6 months in July and 2.4 a year earlier, according to the report.

“We are continuing to see a bit more inventory coming into the market that is starting to be reflected in the month supply,” said Jeanette Schneider, president of RE/MAX of Southeastern Michigan. “We’re seeing that inch up a little bit. That’s a signal that we’ve got more and more inventory coming to market.”

The median sales price rose across a broader area — 18 Michigan counties — to reach $289,000 for residential and condo sales combined, according to a Realcomp August sales report, up 5.1% from $275,000 the year before. Realcomp, the state’s largest multiple listing service, looks at Genesee, Hillsdale, Huron, Jackson, Lapeer, Lenawee, Livingston, Macomb, Monroe, Montcalm, Oakland, Saginaw, Sanilac, Shiawassee, St. Clair, Tuscola, Washington and Wayne counties.

The supply of inventory across the 18 counties increased 16%, from 2.5 months to 2.9 months year over year. Pending sales decreased 4.9% from 10,345 to 9,839 year over year, while pending sales increased from 9,778 month over month by 1%. Closed sales decreased 3.7% from 10,530 to 10,138 year over year, and decreased from 10,507 month over month, a decline of 3.5%.

“As we prepare to move from summer into fall, homebuyers have more choices than they have had all year,” Karen Kage, CEO of Realcomp II Ltd., said in the report. “While median sales prices remain fairly consistent, inventory is at its highest August levels in 5 years.”

‘Holding our own’

One notable point in the data was Detroit, which saw its median sales price jump about 16% from last year to a record $111,500, according to Realcomp.

Darralyn Bowers of Bowers Realty in Southfield said the housing market remains healthy in the city and across Metro Detroit: “So far, we’re holding our own, and we’re still seeing property values go up.

“Even in Detroit, we’re seeing growth. Michigan is unique in the Midwest here. We’ve got so many positive qualities, like the water and the amenities and the desirability of Detroit and some of the things that are happening here in Detroit. I think those all accelerate to a better market.”

Nathan Boji, an agent with RE/MAX Classic in Farmington Hills, said the market varies across Metro Detroit, with Oakland County staying strong in cities like Novi, Farmington Hills and Bloomfield Hills. Livingston County properties are selling quickly, while Macomb County offers solid value. He said Wayne County remains the most affordable for entry-level buyers, with Livonia and Dearborn competitive under $400,000. Sterling Heights is also seeing steady activity.

“If it’s priced right, it’s selling,” he said. “If it’s not priced right, it’s going to sit.”

Jessica Belanger, an agent with RE/MAX Advisors in New Baltimore, said homes in the northern subdivisions in Macomb County, such as New Haven and Shelby, Washington and Macomb townships, are selling relatively quickly: “The nice houses, nice upgrades that don’t need a lot of updates and not priced hopefully over market, are still selling.”

Mortgage rate slide helps

As housing prices rise, mortgage rates continue to trend down, according to Freddie Mac. The 30-year fixed-rate mortgage averaged 6.35% as of Thursday, down from the previous week when it averaged 6.5%. A year ago at this time, the 30-year fixed-rate mortgage averaged 6.2%.

“The 30-year fixed-rate mortgage fell 15 basis points from last week, the largest weekly drop in the past year,” Sam Khater, Freddie Mac’s chief economist, said in the report. “Mortgage rates are headed in the right direction and homebuyers have noticed, as purchase applications reached the highest year-over-year growth rate in more than four years.”

Schneider said September will be the month to watch as the Federal Reserve meets mid-month and markets look for a possible rate cut.

While mortgage rates are more closely tied to the 10-year Treasury than the Fed’s actions, she said Fed decisions can signal direction and influence buyer sentiment. Schneider added that even if rates don’t drop significantly, a Fed cut could give buyers more confidence and push some off the fence, potentially leading to more activity in the fall housing market.

“So it seems, from my perspective, the market has already kind of anticipated what the Fed is going to do, and the interest rates are already starting to kind of reflect that,” she said. “So I don’t necessarily think we’re going to see a huge drop in the mortgage interest rates, even if the Fed does a cut. But what I think a Fed cut could do is psychologically be a very positive confidence booster for buyers that have been iffy.”

While mortgage rates have eased into the mid-to-high 6% range, Boji said many consumers are still holding back: “A large percentage of the consumer still sees that as being a very high rate. They’re sort of holding their breath for a kind of a magic kind of reduction, in the sense of possibly seeing rates that we saw several years ago — 3, 4, 5%.”

Jessica Belanger, an agent with REMAX Advisors, said she’s noticing some clients becoming accustomed to the mortgage rates. “Everybody out there in general is kind of coming to that realization that those 2.5% interest rates were not a realistic expectation. It’s kind of a once-in-a-lifetime thing.”

To help prospective buyers make home ownership more affordable, Bowers said her team hosts a monthly brunch to educate them about down payment assistance and help them explore their options. She noted that some banks are offering grants up to $17,500, while others provide low- or no-interest loans, some with no income limit.

“If you had a grant of $10,000,” Bowers said, “that also is equity.”

Vance, whose budget is between $200,000 and $250,000, said he isn’t a fan of the current mortgage interest rates. But a divorce last year has prompted his move.

The father of three, including two adult children, is considering the three-bedroom home in Redford Township for its roominess. He said he could see himself building an outdoor kitchen off the back patio, a place for entertaining and spending time with loved ones.

For Vance, homeownership is about more than space: “When you are a homeowner, it means a lot. It gives you that peace of mind … a feeling of accomplishment, like you’re doing something right.”

cwilliams@detroitnews.com

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Detroit, MI

Detroit ‘Sloppy Chops’ restaurateur\u00a0killed: What to know

Published

12 hours ago

March 10, 2026

Press Room

$Detroit ‘Sloppy Chops’ restaurateur\u00a0killed: What to know$

Mourning continued and no suspects were in custody a week after the fatal shooting of Detroit restaurateur and nightlife figure Mikey “Mike B” Brown at the end of February.

Brown was the beloved figure behind the “Sloppy” brand of restaurants, and remembrances have been rolling in online since his death.

Here’s what to know:

Shooting outside cocktail bar

“Mike B” Brown, 51, and two others were shot about 4:30 a.m. Feb. 28 in the area of 15789 Schaefer, police previously said.

The two others were found in front of the location, and Brown was found across the street, police said.

Police have asked those with information on the shooting to come forward.

There were no suspects in custody and no further updates in the case as of Monday, March 9, according to a statement from the Detroit Police Department.

Updates on the conditions of the two other individuals shot were also not provided.

Who was Mikey ‘Mike B’ Brown?

Brown was a husband, a father of five and a restaurateur.

He opened Sloppy Chops Restaurant, a steakhouse, in 2020 on West McNichols off the Lodge Freeway and later opened a seafood restaurant called Sloppy Crab, which was renamed the Crab Sports Bar, on East Jefferson Avenue near the Renaissance Center. Brown previously had two clubs, as well.

His downtown dining spot served as an answer to questions on offerings for Black diners in the city’s renaissance. His other “Sloppy” location showcased successful reach beyond downtown and into the city’s neighborhoods. Brown was also a cultural figure in not only the world of dining, but in the nightlife, the Free Press reported.

When are funeral services for Mikey ‘Mike B’ Brown?

A family hour was set for 9 a.m. March 13 and a funeral was set for 10 a.m. March 13, both at Triumph Church –North Campus at 15600 J.L. Hudson Drive in Southfield.

What’s been the fallout since Mike ‘Mike B’ Brown’s death?

Outside of the community hurt, there’s also been calls for a crackdown on establishments that stay open into early morning hours in residential areas, ClickOnDetroit reports.

How to report tips on Mikey ‘Mike B’ Brown’s shooting

Those with information tied to the triple shooting can contact the Detroit Police Department’s homicide unit at 313-596-2260 or submit anonymous tips through Crime Stoppers at 1-800-Speak-Up or DetroitRewards.tv.

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Detroit, MI

Detroit Lions need backup QB as Kyle Allen to sign with Bills

Published

1 day ago

March 9, 2026

Press Room

Detroit Lions need backup QB as Kyle Allen to sign with Bills

The Detroit Lions will need to find a new backup quarterback. Kyle Allen, the 30-year-old ninth-year veteran, will reportedly sign with the Buffalo Bills for two years and $4.1 millions, according to ESPN, reuniting him with his former coordinator Joe Brady.

Allen, who came to the Motor City a year ago after inking a one-year deal, appeared in just three games and attempted two passes this past season as starter Jared Goff logged 98.5% of the team’s offensive snaps at quarterback.

Allen’s greatest contribution came in the preseason, when he forced the organization to give up on its experiment with Hendon Hooker.

In the competition for the No. 2 job, Allen outperformed Hooker and made the former 2023 third-round pick expendable by bringing his stunted development into sharp relief. While Hooker struggled to move the offense when he was in command, Allen thrived in his four auditions, spearheading one productive drive after another for the Lions. He completed 79.5% of his attempts, throwing for 401 yards and five touchdowns with two interceptions. All the while, he exhibited a good understanding of the Lions’ timing-based passing game, giving management the confidence he could – if needed – relieve Goff in a pinch.

“I feel very comfortable with him,” Campbell said last August.

But as it turned out, the Lions were never forced to call upon Allen. Goff, who hasn’t missed a start since Week 17 of the 2021 season, remained reliably present.

The Lions hope Goff’s iron-man streak will continue.

But if it for some reason ends, Allen is no longer there to replace him.

Contact Rainer Sabin at rsabin@freepress.com. Follow him @RainerSabin on X.

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Detroit, MI

Detroit water main break snarls travel on East Jefferson Monday morning

Published

2 days ago

March 9, 2026

Press Room

Detroit water main break snarls travel on East Jefferson Monday morning

article

Vehicles travel through water collected near water main break in Detroit.

DETROIT (FOX 2) – A water main break in Detroit is causing headaches for drivers and sending water into the streets of one of the city’s east side neighborhoods.

The break involves a 42-inch pipeline at East Jefferson and Burns Drive.

The breakage happened on Sunday, leaving only one lane open for each direction of travel.

Local perspective:

A day after the breakage, water was still gathering on the road of Jefferson Avenue.

Video captured of the scene Monday morning showed vehicles driving through ponds of water. Construction equipment were on site along with traffic cones.

The backstory:

This isn’t the only major disruption to water services in the region.

This weekend, a catastrophic breakage at 14 Mile near Drake impacted several Oakland County communities and thousands of residents.

Novi and Walled Lake were among those hardest hit by the breakage, which included dramatic scenes of waves of water washing down the road, submerging vehicles.

The Source: FOX 2’s Charlie Langton and previous reporting were cited for this story.

InfrastructureDetroitInstastories

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