Home Sales Prices Hit Record Highs in Metro Detroit: Report

METRO DETROIT – Home sales prices in metro Detroit hit record highs in May 2024, according to a report from RE/MAX of Southeast Michigan.

The report found that the median home sales value in the region was $331,625, an increase of 4.6 percent from May 2023 and about 5.7 percent from April 2024.

Subscribe

The report shows Oakland County had the highest average sales value at $397,000, followed by Livingston County at $393,250, Macomb County at $270,000 and Wayne County at $197,000.

The report shows that home sales also declined by 4.4% in May 2024 compared to the previous year, mainly due to a lack of inventory.