For those of us in the midst of a beautiful Michigan summer, we’re well aware that this is a great place to live, especially right now. It turns out, the locals might not be the only ones who have caught on to all of the good things going on in the mitten state. In the latest US Home Prices data from Trulia.com, Michigan shows up as the 12th most popular searched real estate market, and the average listing price is likely a strong reason why. Michigan was the tenth most inexpensive market for homes with an average listing price of only $207,896.
|Name||Avg. Listing Price||Trulia Popularity|
|District Of Columbia||$766,458||47|
The Rebound Continues, Prices Are Rising
In 2016 the Free Press wrote an article showing the rebounding prices in Southeast Michigan, stating that prices were getting back to 2007 levels. In many areas of the state inventory remains low and demand is high, as Michigan rides the wave of popularity evidenced by Trulia’s numbers.
Though to some extent, this has only impacted certain areas of Michigan, so while home prices have skyrocketed in certain parts of Southeast, West and Norther Michigan, there are still some extremely undervalued homes in other markets around the state. Whether the rebound will continue to spread to these areas remains to be seen.
Michigan Real Estate Links
Interested in learning more about the market? Follow these links to see where home sales are the hottest:
- 30 of the hottest housing markets in Michigan
- Metro Detroit Real Estate Market Hot
- West Michigan 13th on Realtor.com’s hotness index