Detroit, MI Market TrendsBETA

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Multifamily Property Asking Price Index - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
$29,583.96 +5.6% +15.3%
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Metro
$26,190.91 +3.9% +10.2%
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County
$20,279.79 +6.4% +11.6%
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City
$12,093.51 -11.3% +4.3%

Current Detroit market trends data indicates a decrease of -11.3% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +4.3% compared to last year's prices. County-wide, asking prices for Multifamily properties are 6.4% higher at $20,280 per unit compared to the current median price of $12,094 per unit for Multifamily properties in Detroit, MI.

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Office Property Asking Price Index - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
$70.81 +0.4% +1.7%
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Metro
$78.09 +1.9% +4.6%
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County
$67.52 +4.3% +11.3%
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City
$36.74 +5.2% -4.7%

Current Detroit market trends data indicates an increase of +5.2% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -4.7% compared to last year's prices. County-wide, asking prices for Office properties are 4.3% higher at $68 per sq ft compared to the current median price of $37 per sq ft for Office properties in Detroit, MI.

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Industrial Property Asking Price Index - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
$33.96 +2.3% +4.8%
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Metro
$37.65 +2.3% +5.4%
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County
$30.62 +0.8% +5.8%
-
City
$13.50 +2.0% -3.2%

Current Detroit market trends data indicates an increase of +2.0% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -3.2% compared to last year's prices. County-wide, asking prices for Industrial properties are 0.8% higher at $31 per sq ft compared to the current median price of $13 per sq ft for Industrial properties in Detroit, MI.

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Retail Property Asking Price Index - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
$76.26 +1.2% +8.3%
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Metro
$85.89 +0.9% +8.8%
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County
$78.31 +0.8% +3.8%
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City
$66.44 +6.3% +20.0%

Current Detroit market trends data indicates an increase of +6.3% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +20.0% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 0.8% higher at $78 per sq ft compared to the current median price of $66 per sq ft for Retail Commercial properties in Detroit, MI.

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Office Property Sale Prices - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
$13.95 -35.9% -3.8%
-
Metro
$13.95 -35.9% -3.8%

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Industrial Property Sale Prices - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
$24.09 -8.3% +7.2%
-
Metro
$24.09 -8.3% +7.2%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
42 +1.1% +63.7%

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Office Property Total $ Available For Sale - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
31 -8.6% +8.3%

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Industrial Property Total $ Available For Sale - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
28 -0.7% +22.3%

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Retail Property Total $ Available For Sale - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
41 +3.4% +42.6%

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Multifamily Property No. of Listings - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
35 -3.2% +35.3%

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Office Property No. of Listings - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
53 -1.3% +19.3%

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Industrial Property No. of Listings - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
41 -2.0% +21.4%

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Retail Property No. of Listings - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
55 +6.1% +37.2%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
138 +33.5% -0.5%

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Office Property Profile Views (Demand) - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
174 +53.5% +42.8%

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Industrial Property Profile Views (Demand) - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
226 +45.8% +36.9%

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Retail Property Profile Views (Demand) - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
190 +37.6% +39.2%

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Office Property Total SF Available - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 -7.3% +12.4%

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Industrial Property Total SF Available - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
36 -6.4% +7.7%

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Retail Property Total SF Available - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
47 +7.4% +37.9%

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Multifamily Property No. of Units For Sale - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 -12.0% +19.4%

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Multifamily Property Days on Market - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
127 -3.3% +0.2%
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Metro
108 -10.3% +12.0%

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Office Property Days on Market - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
248 -5.5% +5.8%
-
Metro
251 -5.5% +20.2%

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Industrial Property Days on Market - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
251 -4.5% +4.7%
-
Metro
218 -4.9% +2.4%

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Retail Property Days on Market - Sale Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
176 +2.0% +8.7%
-
Metro
153 -3.8% +0.6%

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Office Property Asking Rent - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
$14.52 +0.0% +1.5%
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Metro
$15.32 -0.3% +0.5%
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County
$14.81 0.0% -0.2%
-
City
$14.88 -0.3% -6.7%

The average asking rental rate per sq ft/year for Office properties in Detroit, MI as of Feb 14 was $14.88. This represents a decrease of -0.3% compared to the prior 3 months, with a decrease of -6.7% year-over-year. County-wide, average rental rates in Detroit are 0.0% lower at $14.81 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
$5.08 +0.2% +4.7%
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Metro
$5.64 +0.8% +6.3%
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County
$5.26 -1.0% +2.4%
-
City
$3.27 -0.8% -6.1%

The average asking rental rate per sq ft/year for Industrial properties in Detroit, MI as of Feb 14 was $3.27. This represents a decrease of -0.8% compared to the prior 3 months, with a decrease of -6.1% year-over-year. County-wide, average rental rates in Detroit are -1.0% lower at $5.26 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
$11.42 +0.4% +1.4%
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Metro
$12.39 -1.2% -1.3%
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County
$12.09 +0.3% +0.9%
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City
$12.39 -0.7% +2.2%

The average asking rental rate per sq ft/year for Retail Commercial properties in Detroit, MI as of Feb 14 was $12.39. This represents a decrease of -0.7% compared to the prior 3 months, with an increase of +2.2% year-over-year. County-wide, average rental rates in Detroit are +0.3% higher at $12.09 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
69 0.0% +28.0%

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Industrial Property No. of Spaces - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
44 -3.2% +13.6%

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Retail Property No. of Spaces - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
83 +4.6% +48.0%

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Office Property Profile Views (Demand) - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
254 +34.9% +9.1%

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Industrial Property Profile Views (Demand) - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
237 +36.8% +22.1%

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Retail Property Profile Views (Demand) - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
235 +36.6% +7.1%

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Office Property Total SF Available - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
68 -3.6% +14.6%

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Industrial Property Total SF Available - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
43 -2.4% +4.6%

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Retail Property Total SF Available - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
Metro
75 +1.7% +36.4%

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Office Property Days on Market - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
214 +4.7% -6.7%
-
Metro
193 +19.5% -20.8%

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Industrial Property Days on Market - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
244 +4.2% +0.3%
-
Metro
233 +1.6% +7.5%

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Retail Property Days on Market - Lease Trends

  Feb 14 vs. 3 mo. prior Y-O-Y
-
State
230 +2.7% +2.2%
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Metro
193 +29.3% -15.3%