Detroit, MI Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$29,907.58 -0.1% +10.9%
-
Metro
$26,537.30 -2.1% +11.5%
-
County
$19,159.89 -6.5% +6.7%
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City
$10,632.81 -3.4% -17.2%

Current Detroit market trends data indicates a decrease of -3.4% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -17.2% compared to last year's prices. County-wide, asking prices for Multifamily properties are -6.5% lower at $19,160 per unit compared to the current median price of $10,633 per unit for Multifamily properties in Detroit, MI.

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Office Property Asking Price Index - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$73.11 +1.3% +3.3%
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Metro
$80.43 +2.8% +4.9%
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County
$72.30 +3.3% +14.4%
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City
$42.68 +10.9% +25.7%

Current Detroit market trends data indicates an increase of +10.9% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +25.7% compared to last year's prices. County-wide, asking prices for Office properties are 3.3% higher at $72 per sq ft compared to the current median price of $43 per sq ft for Office properties in Detroit, MI.

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Industrial Property Asking Price Index - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$36.13 +2.7% +9.6%
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Metro
$40.28 +2.5% +10.4%
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County
$33.40 +3.1% +10.4%
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City
$15.05 +11.3% +17.1%

Current Detroit market trends data indicates an increase of +11.3% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +17.1% compared to last year's prices. County-wide, asking prices for Industrial properties are 3.1% higher at $33 per sq ft compared to the current median price of $15 per sq ft for Industrial properties in Detroit, MI.

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Retail Property Asking Price Index - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$76.10 +0.2% +3.2%
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Metro
$85.54 +1.1% +4.5%
-
County
$76.92 -0.6% +2.5%
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City
$63.35 -0.8% +6.7%

Current Detroit market trends data indicates a decrease of -0.8% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +6.7% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -0.6% lower at $77 per sq ft compared to the current median price of $63 per sq ft for Retail Commercial properties in Detroit, MI.

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Office Property Sale Prices - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$28.00 +48.9% +12.9%
-
Metro
$28.00 +48.9% +12.9%

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Industrial Property Sale Prices - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$37.33 +12.7% +52.7%
-
Metro
$37.33 +12.7% +52.7%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
26 -25.7% +4.3%

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Office Property Total $ Available For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
23 -21.1% -12.4%

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Industrial Property Total $ Available For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
19 -27.2% -9.8%

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Retail Property Total $ Available For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
32 -22.7% +12.0%

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Multifamily Property No. of Listings - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
28 -20.1% +8.2%

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Office Property No. of Listings - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
41 -26.1% -1.6%

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Industrial Property No. of Listings - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
29 -28.1% -9.5%

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Retail Property No. of Listings - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
41 -28.1% +3.3%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
133 +1.0% -8.2%

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Office Property Profile Views (Demand) - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
152 -2.8% +2.7%

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Industrial Property Profile Views (Demand) - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
193 -5.0% -7.0%

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Retail Property Profile Views (Demand) - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
193 +9.1% +10.0%

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Office Property Total SF Available - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
37 -25.1% -7.3%

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Industrial Property Total SF Available - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
23 -30.3% -25.1%

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Retail Property Total SF Available - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
36 -27.3% +7.0%

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Multifamily Property No. of Units For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
33 -20.7% -10.3%

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Multifamily Property Days on Market - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
140 +0.6% -6.7%
-
Metro
124 +17.5% -5.2%

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Office Property Days on Market - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
270 -2.1% +10.0%
-
Metro
236 -0.7% +4.1%

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Industrial Property Days on Market - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
240 +0.4% -9.3%
-
Metro
207 +2.2% -10.0%

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Retail Property Days on Market - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
212 +12.1% +22.7%
-
Metro
166 +3.8% +2.7%

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Office Property Asking Rent - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$14.47 -0.3% -0.3%
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Metro
$15.27 -0.1% -0.7%
-
County
$14.89 -0.1% +0.6%
-
City
$15.42 +3.6% +3.2%

The average asking rental rate per sq ft/year for Office properties in Detroit, MI as of Sep 14 was $15.42. This represents an increase of 3.6% compared to the prior 3 months, with an increase of +3.2% year-over-year. County-wide, average rental rates in Detroit are -0.1% lower at $14.89 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$5.22 +0.9% +3.7%
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Metro
$5.79 +0.8% +4.4%
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County
$5.28 +1.0% -0.6%
-
City
$3.29 -2.3% -4.2%

The average asking rental rate per sq ft/year for Industrial properties in Detroit, MI as of Sep 14 was $3.29. This represents a decrease of -2.3% compared to the prior 3 months, with a decrease of -4.2% year-over-year. County-wide, average rental rates in Detroit are +1.0% higher at $5.28 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$11.50 +0.7% +1.8%
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Metro
$12.60 +0.5% +0.6%
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County
$12.06 -0.4% +0.7%
-
City
$11.87 -0.9% -4.9%

The average asking rental rate per sq ft/year for Retail Commercial properties in Detroit, MI as of Sep 14 was $11.87. This represents a decrease of -0.9% compared to the prior 3 months, with a decrease of -4.9% year-over-year. County-wide, average rental rates in Detroit are -0.4% lower at $12.06 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
52 -25.6% -3.3%

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Industrial Property No. of Spaces - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
32 -26.6% -10.8%

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Retail Property No. of Spaces - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
62 -25.9% +7.4%

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Office Property Profile Views (Demand) - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
283 +12.0% +17.0%

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Industrial Property Profile Views (Demand) - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
253 +5.4% +20.3%

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Retail Property Profile Views (Demand) - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
253 +7.5% +13.1%

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Office Property Total SF Available - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
51 -25.0% -10.5%

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Industrial Property Total SF Available - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
31 -27.8% -15.5%

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Retail Property Total SF Available - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
55 -27.4% +0.6%

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Office Property Days on Market - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
270 +10.0% +47.1%
-
Metro
272 +13.1% +112.4%

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Industrial Property Days on Market - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
319 +3.7% +54.0%
-
Metro
283 +2.5% +40.4%

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Retail Property Days on Market - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
287 +12.0% +25.8%
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Metro
271 +9.8% +95.4%