LANSING, Mich. (Michigan News Source) – The average sale price of a Michigan home has increased 58% over the past five years and broke $300,000 for the first time in October.
The average sale price was $304,826 in October 2024, the latest data available from Michigan Realtors.
In 2019, the average sale price was $192,808, which increases to $236,500 when adjusted for inflation.
The average sale price has increased every year since 2019.
Here were the areas with the highest home sale prices as of Oct. 2024:
Detroit-Oakland-Macomb-Wayne: $597,231
Petoskey: $576,605
Traverse City: $536,431
Grosse Pointe: $527,469
Ann Arbor: $503,466
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