Is Dearborn Heights, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$185,809
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Dearborn Heights was $185,809 in March 2024, up 9.3% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $56K | $63.5K | +13.4% |
2 Bedrooms | $117K | $123.9K | +5.9% |
3 Bedrooms | $174.9K | $190.8K | +9.1% |
4 Bedrooms | $240K | $317.5K | +32.3% |
5+ Bedrooms | $521K | $214.9K | -58.7% |
Summary: Dearborn Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 32.3%, and 5+ bedroom homes decreased by 58.7%.
Median Sold Price Compared To Nearby Cities
Inkster | $86K | $100.5K | +16.9% |
Allen Park | $183K | $210K | +14.8% |
Dearborn | $220K | $242K | +10.0% |
Dearborn Heights | $170K | $185.8K | +9.3% |
Redford | $155.4K | $161.9K | +4.2% |
Housing Supply in Dearborn Heights, MI
How many homes are available in Dearborn Heights, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
131 | 136 | +3.8% |
Summary: The Dearborn Heights real estate market had 136 homes for sale in March 2024, a 3.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 19 | 20 | +5.3% |
3 Bedrooms | 91 | 91 | 0.0% |
4 Bedrooms | 16 | 19 | +18.8% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Dearborn Heights housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 39 | -4.9% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 39 homes were sold or pending in Dearborn Heights in March 2024, down by 4.9% month-over-month. Of the 39 sold homes, 31% were sold under asking, 21% were sold at asking, and 49% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
123 Days | 21 Days | -82.2% |
Summary: Homes in Dearborn Heights had an average of 21 days on market in Mar 2024, down by 82.2% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 39 homes were sold in Dearborn Heights; 77% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.