Detroit, MI Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$29,942.51 -1.6% +7.8%
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Metro
$27,100.64 +2.3% +13.7%
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County
$20,492.57 -0.9% +13.6%
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City
$11,001.47 -2.6% -14.2%

Current Detroit market trends data indicates a decrease of -2.6% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -14.2% compared to last year's prices. County-wide, asking prices for Multifamily properties are -0.9% lower at $20,493 per unit compared to the current median price of $11,001 per unit for Multifamily properties in Detroit, MI.

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Office Property Asking Price Index - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$72.16 +1.2% +2.5%
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Metro
$78.24 -0.7% +3.2%
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County
$70.01 +1.7% +10.4%
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City
$38.47 +0.1% +6.5%

Current Detroit market trends data indicates an increase of +0.1% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +6.5% compared to last year's prices. County-wide, asking prices for Office properties are 1.7% higher at $70 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

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$35.17 +2.2% +7.6%
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Metro
$39.28 +2.8% +9.0%
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County
$32.40 +4.2% +10.8%
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City
$13.52 +1.4% +4.7%

Current Detroit market trends data indicates an increase of +1.4% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +4.7% compared to last year's prices. County-wide, asking prices for Industrial properties are 4.2% higher at $32 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

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$75.97 -0.2% +6.4%
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Metro
$84.65 -1.1% +7.3%
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County
$77.39 -1.5% +5.3%
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City
$63.84 -4.7% +12.9%

Current Detroit market trends data indicates a decrease of -4.7% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +12.9% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -1.5% lower 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

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$19.03 +25.4% -3.0%
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Metro
$19.03 +25.4% -3.0%

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Industrial Property Sale Prices - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$33.59 +30.1% +52.5%
-
Metro
$33.59 +30.1% +52.5%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
35 -11.1% +59.9%

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Office Property Total $ Available For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
30 -4.5% +4.4%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
27 -4.9% +19.7%

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Retail Property Total $ Available For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
42 +3.0% +42.3%

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Multifamily Property No. of Listings - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
35 +1.1% +39.1%

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Office Property No. of Listings - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
55 +3.9% +24.9%

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Industrial Property No. of Listings - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
40 -1.0% +19.2%

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Retail Property No. of Listings - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
57 +1.9% +38.3%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
131 -7.2% +17.1%

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Office Property Profile Views (Demand) - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
156 -12.4% +23.6%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
203 -16.2% +9.5%

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Retail Property Profile Views (Demand) - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
177 -11.3% +14.9%

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Office Property Total SF Available - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
49 +6.4% +16.6%

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Industrial Property Total SF Available - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
33 -5.8% +0.3%

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Retail Property Total SF Available - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 +4.1% +39.7%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
42 -8.3% +14.6%

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Multifamily Property Days on Market - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
139 +3.0% -10.7%
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Metro
105 -4.8% -9.5%

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Office Property Days on Market - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
276 +10.8% +18.6%
-
Metro
239 +1.8% +16.7%

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Industrial Property Days on Market - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
239 -2.4% -9.1%
-
Metro
203 -4.0% -7.6%

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Retail Property Days on Market - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
190 +7.0% +7.2%
-
Metro
160 +4.6% +0.5%

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Office Property Asking Rent - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$14.51 -0.2% +0.5%
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Metro
$15.28 -0.1% -0.4%
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County
$14.91 +0.8% +1.0%
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City
$14.89 +0.1% -2.7%

The average asking rental rate per sq ft/year for Office properties in Detroit, MI as of Jun 14 was $14.89. This represents an increase of 0.1% compared to the prior 3 months, with a decrease of -2.7% year-over-year. County-wide, average rental rates in Detroit are +0.8% higher at $14.91 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$5.17 +1.6% +4.7%
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Metro
$5.74 +1.4% +5.9%
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County
$5.23 +0.2% +0.8%
-
City
$3.36 +3.2% -4.1%

The average asking rental rate per sq ft/year for Industrial properties in Detroit, MI as of Jun 14 was $3.36. This represents an increase of 3.2% compared to the prior 3 months, with a decrease of -4.1% year-over-year. County-wide, average rental rates in Detroit are +0.2% higher at $5.23 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$11.43 +0.0% +0.5%
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Metro
$12.54 +1.1% +0.3%
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County
$12.10 -0.3% -0.2%
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City
$11.97 -2.9% -4.7%

The average asking rental rate per sq ft/year for Retail Commercial properties in Detroit, MI as of Jun 14 was $11.97. This represents a decrease of -2.9% compared to the prior 3 months, with a decrease of -4.7% year-over-year. County-wide, average rental rates in Detroit are -0.3% lower at $12.10 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
70 +0.3% +26.5%

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Industrial Property No. of Spaces - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
43 -1.5% +14.1%

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Retail Property No. of Spaces - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
83 -0.1% +37.6%

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Office Property Profile Views (Demand) - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
253 -8.4% +8.5%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
240 -7.2% +30.2%

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Retail Property Profile Views (Demand) - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
235 -4.9% +14.4%

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Office Property Total SF Available - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
68 -0.4% +14.2%

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Industrial Property Total SF Available - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
43 -1.3% +8.6%

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Retail Property Total SF Available - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
75 +0.8% +34.9%

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Office Property Days on Market - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
244 +13.1% +22.4%
-
Metro
241 +20.6% +69.4%

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Industrial Property Days on Market - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
307 +20.4% +61.0%
-
Metro
276 +16.7% +51.8%

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Retail Property Days on Market - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
257 +12.0% +0.7%
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Metro
247 +21.4% +15.5%