Detroit, MI Market TrendsBETA

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Multifamily Property Asking Price Index - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
$30,442.68 +7.0% +18.0%
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Metro
$26,483.11 +1.9% +15.5%
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County
$20,669.65 +5.3% +17.0%
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City
$11,290.43 -15.3% -0.5%

Current Detroit market trends data indicates a decrease of -15.3% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -0.5% compared to last year's prices. County-wide, asking prices for Multifamily properties are 5.3% higher at $20,670 per unit compared to the current median price of $11,290 per unit for Multifamily properties in Detroit, MI.

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Office Property Asking Price Index - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
$71.29 +1.3% +2.1%
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Metro
$78.82 +3.1% +5.0%
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County
$68.81 +6.1% +10.8%
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City
$38.43 +13.3% -0.2%

Current Detroit market trends data indicates an increase of +13.3% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -0.2% compared to last year's prices. County-wide, asking prices for Office properties are 6.1% higher at $69 per sq ft compared to the current median price of $38 per sq ft for Office properties in Detroit, MI.

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Industrial Property Asking Price Index - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
$34.42 +3.1% +5.8%
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Metro
$38.22 +2.9% +6.9%
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County
$31.10 +1.6% +7.9%
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City
$13.33 +0.6% +2.1%

Current Detroit market trends data indicates an increase of +0.6% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +2.1% compared to last year's prices. County-wide, asking prices for Industrial properties are 1.6% 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

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
$76.14 -0.6% +8.2%
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Metro
$85.62 -0.7% +8.7%
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County
$78.60 +0.7% +4.5%
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City
$67.02 +1.9% +20.7%

Current Detroit market trends data indicates an increase of +1.9% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +20.7% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 0.7% higher at $79 per sq ft compared to the current median price of $67 per sq ft for Retail Commercial properties in Detroit, MI.

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Office Property Sale Prices - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
$15.17 -11.5% -1.7%
-
Metro
$15.17 -11.5% -1.7%

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Industrial Property Sale Prices - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
$26.68 +7.6% +11.1%
-
Metro
$26.68 +7.6% +11.1%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
39 -8.4% +54.4%

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Office Property Total $ Available For Sale - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
31 -7.8% +8.0%

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Industrial Property Total $ Available For Sale - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
28 -1.5% +22.1%

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Retail Property Total $ Available For Sale - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
41 -0.7% +39.6%

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Multifamily Property No. of Listings - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
34 -4.6% +30.7%

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Office Property No. of Listings - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
53 -2.3% +18.7%

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Industrial Property No. of Listings - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
41 -2.0% +21.8%

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Retail Property No. of Listings - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
55 +4.2% +37.0%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
142 +42.7% -3.2%

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Office Property Profile Views (Demand) - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
178 +42.6% +31.5%

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Industrial Property Profile Views (Demand) - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
242 +49.5% +33.6%

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Retail Property Profile Views (Demand) - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
199 +43.1% +32.0%

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Office Property Total SF Available - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
46 -8.3% +10.2%

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Industrial Property Total SF Available - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
35 -7.2% +5.5%

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Retail Property Total SF Available - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 +6.2% +38.4%

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Multifamily Property No. of Units For Sale - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
46 -16.3% +12.1%

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Multifamily Property Days on Market - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
135 +13.0% +1.3%
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Metro
111 +0.7% +12.7%

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Office Property Days on Market - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
251 -4.9% +4.5%
-
Metro
238 -15.4% +9.6%

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Industrial Property Days on Market - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
245 -5.3% -0.7%
-
Metro
211 -7.1% -0.4%

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Retail Property Days on Market - Sale Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
178 +3.1% +7.2%
-
Metro
152 -2.2% -2.4%

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Office Property Asking Rent - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
$14.53 +0.3% +1.6%
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Metro
$15.29 -0.3% +0.4%
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County
$14.80 0.0% +0.2%
-
City
$14.87 -0.3% -6.3%

The average asking rental rate per sq ft/year for Office properties in Detroit, MI as of Mar 14 was $14.87. This represents a decrease of -0.3% compared to the prior 3 months, with a decrease of -6.3% year-over-year. County-wide, average rental rates in Detroit are 0.0% lower at $14.80 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
$5.09 +0.3% +5.0%
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Metro
$5.66 +0.8% +6.5%
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County
$5.22 -1.8% +1.6%
-
City
$3.26 -0.6% -8.1%

The average asking rental rate per sq ft/year for Industrial properties in Detroit, MI as of Mar 14 was $3.26. This represents a decrease of -0.6% compared to the prior 3 months, with a decrease of -8.1% year-over-year. County-wide, average rental rates in Detroit are -1.8% lower at $5.22 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
$11.43 +0.6% +1.3%
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Metro
$12.40 -0.3% -1.1%
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County
$12.14 +0.8% +1.1%
-
City
$12.34 -1.0% +1.2%

The average asking rental rate per sq ft/year for Retail Commercial properties in Detroit, MI as of Mar 14 was $12.34. This represents a decrease of -1.0% compared to the prior 3 months, with an increase of +1.2% year-over-year. County-wide, average rental rates in Detroit are +0.8% higher at $12.14 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
69 +0.3% +28.6%

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Industrial Property No. of Spaces - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
44 -2.5% +14.0%

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Retail Property No. of Spaces - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
83 +2.8% +48.0%

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Office Property Profile Views (Demand) - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
276 +53.7% +8.9%

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Industrial Property Profile Views (Demand) - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
258 +50.5% +21.2%

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Retail Property Profile Views (Demand) - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
247 +41.6% +5.2%

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Office Property Total SF Available - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
68 -2.3% +15.0%

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Industrial Property Total SF Available - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
43 -1.4% +5.2%

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Retail Property Total SF Available - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
Metro
75 +1.2% +36.8%

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Office Property Days on Market - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
216 +1.2% -4.4%
-
Metro
199 +10.3% -11.4%

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Industrial Property Days on Market - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
254 +6.1% +10.7%
-
Metro
237 +0.7% +12.5%

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Retail Property Days on Market - Lease Trends

  Mar 14 vs. 3 mo. prior Y-O-Y
-
State
230 +1.5% +1.9%
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Metro
203 +23.2% -7.6%