Michigan Real Estate Market Update: June 2026 This report provides a factual overview of the Michigan real estate market as of June 2026, focusing on key metrics relevant to For Sale By Owner (FSBO) sellers.
Median Home Prices As of June 2026, the median home price across Michigan has been recorded at $285,000.
This figure represents a 4.8% increase compared to June 2025's median price of $271,900.
Price trends vary by region within the state.
For instance, the median home price in the Detroit metropolitan area reached $298,500, while in Grand Rapids, it stood at $310,200.
Conversely, some northern Michigan counties reported median prices closer to $250,000.
These figures are based on closed sales data from May 2026, reflecting transactions finalized during that period.
Days on Market (DOM) The average Days on Market (DOM) for homes sold in Michigan during May 2026 was 32 days.
This represents a slight decrease from the 35 days reported in May 2025.
Homes in highly desirable suburban areas and major metropolitan centers, such as Ann Arbor and parts of Oakland County, frequently recorded DOM figures below the state average, often selling within 15-20 days.
Properties in more rural or less densely populated areas generally experienced longer marketing periods, sometimes exceeding 45 days.
The DOM calculation includes the period from listing activation to the signing of a purchase agreement.
Buyer Demand Buyer demand in Michigan remains robust as of June 2026.
Mortgage application volumes for home purchases in Michigan increased by 3.1% in May 2026 compared to April 2026, and by 2.5% year-over-year.
Open house attendance across the state has shown consistent traffic, particularly for well-maintained properties priced competitively.
The number of active buyers pre-approved for mortgages has also maintained a high level.
This sustained demand is influenced by current interest rate stability and continued employment growth within the state.
Multiple offer scenarios, while not as prevalent as in early 2022, are still observed for properties that meet specific buyer criteria, especially in the lower-to-mid price ranges.
Inventory Levels Michigan's housing inventory levels continue to be a significant factor in the market.
As of the end of May 2026, the state recorded 2.8 months of housing supply.
This figure indicates a market that still favors sellers, as a balanced market is typically considered to have 5-6 months of supply.
The total number of active listings statewide increased by 1.2% from April to May 2026 but remains 7.5% lower than the active listing count in May 2025.
New listings coming onto the market in May 2026 were up 0.9% month-over-month.
The persistent low inventory contributes to the competitive environment for buyers and influences the median home price and Days on Market metrics.