Detroit, MI Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$36,253.27 +6.1% +21.1%
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Metro
$34,170.95 +4.9% +26.1%
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County
$27,448.84 +11.2% +33.9%
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City
$13,332.00 +21.0% +21.2%

Current Detroit market trends data indicates an increase of +21.0% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +21.2% compared to last year's prices. County-wide, asking prices for Multifamily properties are 11.2% higher at $27,449 per unit compared to the current median price of $13,332 per unit for Multifamily properties in Detroit, MI.

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Office Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$75.65 +0.2% +4.8%
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Metro
$85.29 +0.7% +9.0%
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County
$79.30 +1.1% +13.3%
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City
$66.96 +11.0% +74.1%

Current Detroit market trends data indicates an increase of +11.0% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +74.1% compared to last year's prices. County-wide, asking prices for Office properties are 1.1% higher at $79 per sq ft compared to the current median price of $67 per sq ft for Office properties in Detroit, MI.

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Industrial Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$37.32 +1.6% +6.1%
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Metro
$42.50 +2.9% +8.2%
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County
$34.68 +5.2% +7.0%
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City
$17.09 +9.5% +26.4%

Current Detroit market trends data indicates an increase of +9.5% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +26.4% compared to last year's prices. County-wide, asking prices for Industrial properties are 5.2% higher at $35 per sq ft compared to the current median price of $17 per sq ft for Industrial properties in Detroit, MI.

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Retail Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$78.51 +0.3% +3.4%
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Metro
$86.25 -0.2% +1.9%
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County
$77.57 +1.1% +0.2%
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City
$64.54 +1.2% +1.1%

Current Detroit market trends data indicates an increase of +1.2% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +1.1% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 1.1% higher at $78 per sq ft compared to the current median price of $65 per sq ft for Retail Commercial properties in Detroit, MI.

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Office Property Sale Prices - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$39.78 +42.5% +111.5%
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Metro
$39.78 +42.5% +111.5%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
16 -9.3% -55.1%

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Office Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
23 -6.7% -21.4%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
20 +0.1% -26.7%

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Retail Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
36 +1.5% -13.2%

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Multifamily Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
26 -1.7% -26.4%

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Office Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
39 -1.8% -29.1%

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Industrial Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
25 -3.8% -38.3%

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Retail Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
41 +2.3% -28.3%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
121 -30.2% -7.9%

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Office Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
134 -28.4% -14.1%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
235 -20.6% +15.9%

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Retail Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
199 -14.3% +12.7%

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Office Property Total SF Available - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
35 -7.8% -28.3%

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Industrial Property Total SF Available - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
23 +1.3% -29.2%

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Retail Property Total SF Available - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
39 +5.2% -21.1%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
24 +10.0% -42.2%

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Multifamily Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
133 +7.7% -4.6%
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Metro
96 -6.4% -9.3%

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Office Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
292 +3.2% +5.8%
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Metro
274 +5.6% +15.4%

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Industrial Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
269 +3.8% +12.3%
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Metro
236 -0.1% +16.8%

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Retail Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
198 +2.7% +3.6%
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Metro
178 +0.8% +11.4%

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Office Property Asking Rent - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$14.67 +0.5% +1.1%
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Metro
$15.46 +0.1% +1.2%
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County
$15.09 -0.1% +1.2%
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City
$15.92 +0.7% +6.9%

The average asking rental rate per sq ft/year for Office properties in Detroit, MI as of Jun 15 was $15.92. This represents an increase of 0.7% compared to the prior 3 months, with an increase of +6.9% year-over-year. County-wide, average rental rates in Detroit are -0.1% lower at $15.09 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$5.44 +0.7% +5.2%
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Metro
$6.03 +1.3% +5.0%
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County
$5.37 +0.6% +2.8%
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City
$3.55 +4.0% +5.6%

The average asking rental rate per sq ft/year for Industrial properties in Detroit, MI as of Jun 15 was $3.55. This represents an increase of 4.0% compared to the prior 3 months, with an increase of +5.6% year-over-year. County-wide, average rental rates in Detroit are +0.6% higher at $5.37 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$11.55 -0.7% +1.0%
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Metro
$12.72 -0.8% +1.4%
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County
$12.19 +0.0% +0.7%
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City
$12.18 -0.1% +1.7%

The average asking rental rate per sq ft/year for Retail Commercial properties in Detroit, MI as of Jun 15 was $12.18. This represents a decrease of -0.1% compared to the prior 3 months, with an increase of +1.7% year-over-year. County-wide, average rental rates in Detroit are +0.0% 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

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
50 +0.4% -28.8%

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Industrial Property No. of Spaces - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
27 -2.5% -36.5%

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Retail Property No. of Spaces - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
59 -4.6% -29.6%

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Office Property Profile Views (Demand) - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
258 -20.2% +2.0%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
241 -24.6% +0.4%

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Retail Property Profile Views (Demand) - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
231 -22.5% -1.8%

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Office Property Total SF Available - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
45 -1.4% -33.2%

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Industrial Property Total SF Available - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
28 -0.8% -34.3%

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Retail Property Total SF Available - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 -3.9% -30.7%

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Office Property Days on Market - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
274 -8.0% +12.4%
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Metro
281 -9.5% +17.2%

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Industrial Property Days on Market - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
262 +6.9% -14.9%
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Metro
262 +11.3% -6.1%

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Retail Property Days on Market - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
314 +12.6% +22.9%
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Metro
292 +4.7% +16.3%