Detroit, MI Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$31,351.49 +2.2% +8.2%
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Metro
$30,058.03 +9.6% +14.9%
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County
$22,862.55 +11.9% +14.7%
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City
$11,484.42 +3.5% -10.4%

Current Detroit market trends data indicates an increase of +3.5% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -10.4% compared to last year's prices. County-wide, asking prices for Multifamily properties are 11.9% higher at $22,863 per unit compared to the current median price of $11,484 per unit for Multifamily properties in Detroit, MI.

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Office Property Asking Price Index - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$75.12 +2.0% +6.6%
-
Metro
$84.35 +2.5% +9.6%
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County
$77.16 +3.8% +17.2%
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City
$55.35 +20.9% +60.0%

Current Detroit market trends data indicates an increase of +20.9% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +60.0% compared to last year's prices. County-wide, asking prices for Office properties are 3.8% higher at $77 per sq ft compared to the current median price of $55 per sq ft for Office properties in Detroit, MI.

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Industrial Property Asking Price Index - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$36.71 +0.6% +8.9%
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Metro
$40.86 +0.2% +9.3%
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County
$32.65 -2.6% +6.9%
-
City
$14.44 -3.5% +7.6%

Current Detroit market trends data indicates a decrease of -3.5% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +7.6% compared to last year's prices. County-wide, asking prices for Industrial properties are -2.6% lower at $33 per sq ft compared to the current median price of $14 per sq ft for Industrial properties in Detroit, MI.

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Retail Property Asking Price Index - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$77.54 +2.0% +1.3%
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Metro
$87.02 +1.0% +0.9%
-
County
$77.03 +0.2% -1.4%
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City
$67.03 +3.6% +0.1%

Current Detroit market trends data indicates an increase of +3.6% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +0.1% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 0.2% higher at $77 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

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$28.36 -0.6% +105.9%
-
Metro
$28.36 -0.6% +105.9%

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Industrial Property Sale Prices - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$35.45 -3.0% +46.7%
-
Metro
$35.45 -3.0% +46.7%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
23 -10.4% -48.3%

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Office Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
24 +2.5% -24.6%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
20 +1.5% -28.9%

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Retail Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
36 +6.8% -13.9%

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Multifamily Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
29 +6.2% -18.6%

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Office Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
40 -0.6% -25.3%

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Industrial Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
28 -3.2% -31.5%

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Retail Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
41 +1.2% -25.8%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
170 +20.9% +26.6%

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Office Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
168 +6.5% +1.4%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
266 +29.5% +24.5%

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Retail Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
221 +6.5% +21.2%

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Office Property Total SF Available - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
38 +2.6% -22.8%

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Industrial Property Total SF Available - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
23 +3.3% -34.8%

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Retail Property Total SF Available - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
38 +3.9% -18.9%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
28 -14.1% -45.1%

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Multifamily Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
123 -12.6% +3.6%
-
Metro
109 -12.0% +4.0%

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Office Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
279 +2.6% +8.8%
-
Metro
254 +4.2% -5.6%

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Industrial Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
264 +5.7% +3.9%
-
Metro
244 +11.7% +10.8%

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Retail Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
194 -7.0% +11.5%
-
Metro
174 +3.0% +13.4%

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Office Property Asking Rent - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$14.62 +0.7% +0.8%
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Metro
$15.45 +0.7% +0.8%
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County
$15.15 +1.2% +2.3%
-
City
$15.89 +1.4% +6.7%

The average asking rental rate per sq ft/year for Office properties in Detroit, MI as of Jan 15 was $15.89. This represents an increase of 1.4% compared to the prior 3 months, with an increase of +6.7% year-over-year. County-wide, average rental rates in Detroit are +1.2% higher at $15.15 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$5.35 +1.6% +5.2%
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Metro
$5.84 +0.9% +3.5%
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County
$5.28 -0.2% -0.9%
-
City
$3.34 +3.3% +2.6%

The average asking rental rate per sq ft/year for Industrial properties in Detroit, MI as of Jan 15 was $3.34. This represents an increase of 3.3% compared to the prior 3 months, with an increase of +2.6% year-over-year. County-wide, average rental rates in Detroit are -0.2% lower at $5.28 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$11.59 +0.7% +1.6%
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Metro
$12.82 +1.6% +3.4%
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County
$12.28 +1.9% +1.8%
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City
$12.38 +3.8% -0.5%

The average asking rental rate per sq ft/year for Retail Commercial properties in Detroit, MI as of Jan 15 was $12.38. This represents an increase of 3.8% compared to the prior 3 months, with a decrease of -0.5% year-over-year. County-wide, average rental rates in Detroit are +1.9% higher at $12.28 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
51 -1.5% -26.1%

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Industrial Property No. of Spaces - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
30 -5.2% -32.7%

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Retail Property No. of Spaces - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
61 -0.2% -25.4%

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Office Property Profile Views (Demand) - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
283 -6.8% +17.9%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
293 +4.5% +32.4%

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Retail Property Profile Views (Demand) - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
268 +1.9% +15.5%

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Office Property Total SF Available - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -4.2% -29.5%

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Industrial Property Total SF Available - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
30 -2.6% -30.8%

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Retail Property Total SF Available - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
54 -0.9% -26.8%

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Office Property Days on Market - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
310 +11.8% +43.5%
-
Metro
330 +17.4% +72.7%

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Industrial Property Days on Market - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
228 -17.1% -6.6%
-
Metro
198 -20.5% -15.8%

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Retail Property Days on Market - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
277 -5.5% +20.8%
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Metro
276 -0.7% +47.4%