Markets › Michigan
Michigan housing market
In the Great Lakes State, part of the Census Bureau's East North Central division, Pecan Street tracks four markets. Median sale prices run from $102K in Detroit to $483K in Ann Arbor as of Aug 2026. Three of four are higher than a year earlier and one is lower; Ann Arbor leads at +4.3% and Detroit trails at -2.7%.
Homes sit longest in Ann Arbor (48 median days on market) and sell fastest in Grand Rapids (42 days). The share of active listings with a price cut runs from 38% in Ann Arbor to 46% in Grand Rapids. Price-to-rent ratios run from about 5 in Detroit to 19 in Ann Arbor, measured as years of HUD Fair Market Rent per median sale price. Michigan's unemployment rate was 5.0% in Aug 2026 (BLS via FRED). The national rate was 4.2% in Sep 2026.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Ann Arbor | $483K | +4.3% | 48 | 38% | ≈ 19 |
| Detroit | $102K | -2.7% | 43 | 41% | ≈ 5 |
| Grand Rapids | $308K | +2.7% | 42 | 46% | ≈ 12 |
| Lansing | $157K | +4.2% | 46 | 42% | ≈ 8 |
Median sale price and year-over-year change from Redfin (rolling three months); median days on market and the share of active listings with a price cut from Realtor.com; price-to-rent is each market page's figure (its median sale price over a year of HUD Fair Market Rent). Figures are per metro market, not statewide.
Cities
Ann Arbor, MI
$483K · +4.3%
Detroit, MI
$102K · -2.7%
Grand Rapids, MI
$308K · +2.7%
Lansing, MI
$157K · +4.2%
Recent signals
No market signals flagged across this state right now.