Detroit, MI Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$34,155.38 +11.1% +12.2%
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Metro
$32,571.00 +14.2% +23.0%
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County
$24,679.30 +13.6% +19.4%
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City
$11,020.24 -6.1% -2.4%

Current Detroit market trends data indicates a decrease of -6.1% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -2.4% compared to last year's prices. County-wide, asking prices for Multifamily properties are 13.6% higher at $24,679 per unit compared to the current median price of $11,020 per unit for Multifamily properties in Detroit, MI.

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Office Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$75.53 +1.4% +5.9%
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Metro
$84.71 +1.2% +7.5%
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County
$78.47 +3.5% +14.0%
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City
$60.33 +17.4% +57.0%

Current Detroit market trends data indicates an increase of +17.4% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +57.0% compared to last year's prices. County-wide, asking prices for Office properties are 3.5% higher at $78 per sq ft compared to the current median price of $60 per sq ft for Office properties in Detroit, MI.

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Industrial Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$36.75 +0.2% +6.8%
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Metro
$41.30 +1.3% +8.0%
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County
$32.97 +0.5% +6.0%
-
City
$15.60 +9.0% +17.0%

Current Detroit market trends data indicates an increase of +9.0% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +17.0% compared to last year's prices. County-wide, asking prices for Industrial properties are 0.5% higher at $33 per sq ft compared to the current median price of $16 per sq ft for Industrial properties in Detroit, MI.

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Retail Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$78.27 +1.7% +2.8%
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Metro
$86.41 -0.7% +0.9%
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County
$76.75 +0.2% -2.4%
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City
$63.79 -3.5% -4.8%

Current Detroit market trends data indicates a decrease of -3.5% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -4.8% 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 $64 per sq ft for Retail Commercial properties in Detroit, MI.

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Office Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$27.92 -4.1% +84.0%
-
Metro
$27.92 -4.1% +84.0%

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Industrial Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$35.67 +1.7% +38.2%
-
Metro
$35.67 +1.7% +38.2%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
17 -27.8% -56.0%

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Office Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
25 +5.9% -19.6%

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Industrial Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
20 -2.8% -30.4%

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Retail Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
36 +2.4% -11.9%

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Multifamily Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
26 -7.0% -24.4%

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Office Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
40 -0.2% -24.9%

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Industrial Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
26 -9.8% -36.5%

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Retail Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
40 -2.5% -28.6%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
174 +10.1% +22.5%

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Office Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
187 +18.2% +5.1%

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Industrial Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
297 +24.4% +22.4%

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Retail Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
232 +8.1% +16.6%

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Office Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
38 +5.1% -17.3%

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Industrial Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
23 -1.3% -34.2%

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Retail Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
37 -1.1% -21.9%

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Multifamily Property No. of Units For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
22 -27.3% -51.8%

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Multifamily Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
123 -4.2% -8.8%
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Metro
102 -10.3% -7.8%

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Office Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
283 +2.1% +13.4%
-
Metro
259 +2.9% +10.5%

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Industrial Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
259 -1.7% +5.6%
-
Metro
236 -2.0% +12.8%

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Retail Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
193 -2.0% +8.1%
-
Metro
176 +1.9% +15.4%

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Office Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$14.60 -0.1% +0.4%
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Metro
$15.44 +0.0% +1.0%
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County
$15.10 +0.1% +2.0%
-
City
$15.82 -0.5% +6.3%

The average asking rental rate per sq ft/year for Office properties in Detroit, MI as of Mar 15 was $15.82. This represents a decrease of -0.5% compared to the prior 3 months, with an increase of +6.3% year-over-year. County-wide, average rental rates in Detroit are +0.1% higher at $15.10 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$5.41 +1.3% +6.2%
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Metro
$5.95 +2.4% +5.1%
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County
$5.34 +1.0% +2.4%
-
City
$3.41 +2.9% +4.7%

The average asking rental rate per sq ft/year for Industrial properties in Detroit, MI as of Mar 15 was $3.41. This represents an increase of 2.9% compared to the prior 3 months, with an increase of +4.7% year-over-year. County-wide, average rental rates in Detroit are +1.0% higher at $5.34 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$11.62 +1.0% +1.7%
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Metro
$12.82 +0.7% +3.4%
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County
$12.19 +0.1% +0.4%
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City
$12.18 -0.1% -1.2%

The average asking rental rate per sq ft/year for Retail Commercial properties in Detroit, MI as of Mar 15 was $12.18. This represents a decrease of -0.1% compared to the prior 3 months, with a decrease of -1.2% year-over-year. County-wide, average rental rates in Detroit are +0.1% higher at $12.19 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
49 -3.9% -28.8%

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Industrial Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
28 -7.7% -35.9%

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Retail Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
61 +0.1% -26.2%

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Office Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
323 +17.1% +17.1%

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Industrial Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
319 +12.7% +23.7%

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Retail Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
298 +15.2% +20.5%

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Office Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
46 -6.4% -32.5%

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Industrial Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
28 -6.8% -34.6%

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Retail Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
54 -0.9% -27.2%

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Office Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
297 -1.3% +37.4%
-
Metro
310 -2.3% +56.2%

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Industrial Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
250 +11.2% -2.2%
-
Metro
237 +21.0% -0.1%

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Retail Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
280 -3.8% +21.6%
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Metro
278 -1.1% +32.5%