Markets › Michigan
Michigan housing market
In the Great Lakes State, part of the Census Bureau's East North Central division, Pecan Street tracks 15 markets. Median sale prices run from $183K in Bay City to $456K in Traverse City over Jul–Sep 2026. 13 of 15 are higher than a year earlier and two are lower; Traverse City leads at +7.7% and Ann Arbor trails at -2.9%.
Homes sit longest in Traverse City (64 median days on market) and sell fastest in Monroe (39 days). The share of active listings with a price cut runs from 31% in Traverse City to 53% in Midland. Price-to-rent ratios run from about 11 in Bay City to 18 in Niles, measured as years of HUD Fair Market Rent per median sale price. Among the 385 U.S. metros Pecan Street tracks, the Midland metro has the 7th-highest share of listings with a price cut and the Ann Arbor metro the 24th-slowest year-over-year price growth. Michigan's unemployment rate was 5.0% in Sep 2026 (BLS via FRED), above the national rate of 4.2%.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Ann Arbor | $424K | -2.9% | 51 | 35% | ≈ 16 |
| Battle Creek | $213K | +1.9% | 45 | 49% | ≈ 12 |
| Bay City | $183K | +5.6% | 51 | 44% | ≈ 11 |
| Detroit | $302K | +4.0% | 45 | 40% | ≈ 14 |
| Flint | $233K | +2.9% | 51 | 45% | ≈ 14 |
| Grand Rapids | $370K | +3.9% | 43 | 48% | ≈ 15 |
| Jackson | $233K | +6.3% | 57 | 40% | ≈ 12 |
| Kalamazoo | $301K | +4.5% | 43 | 44% | ≈ 16 |
| Lansing | $252K | +5.5% | 47 | 41% | ≈ 12 |
| Midland | $252K | +0.5% | 45 | 53% | ≈ 14 |
| Monroe | $278K | +4.3% | 39 | 33% | ≈ 15 |
| Muskegon | $270K | +3.9% | 48 | 40% | ≈ 15 |
| Niles | $320K | +0.3% | 57 | 40% | ≈ 18 |
| Saginaw | $193K | -1.1% | 54 | 44% | ≈ 11 |
| Traverse City | $456K | +7.7% | 64 | 31% | — |
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.
Recent signals
No market signals flagged across this state right now.