$3,384 Closing Credit*
$285,000
1,067 SqFt
3 Beds
•2 Full Baths
Trisha Dork, Listing Office: Elite Realty
Is Dearborn Heights, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Dearborn Heights has remained a Seller's Market.
Key Takeaway
Dearborn Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dearborn Heights, MI
How much do homes in Dearborn Heights, MI cost?
Median Sold Price
$205,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,625(+13.0%)
Key Takeaway
Homes in Dearborn Heights have sold for 13% more than they did a year ago.
Summary: The median home sold price in Dearborn Heights was $205,000 in October 2024, up 13% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $56K | $64K | +14.3% |
| 2 Bedrooms | $124.5K | $138.5K | +11.2% |
| 3 Bedrooms | $185.9K | $210.5K | +13.3% |
| 4 Bedrooms | $250K | $370K | +48.0% |
| 5+ Bedrooms | $310K | $339K | +9.4% |
Summary: Dearborn Heights housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 48%, and 5+ bedroom homes increased by 9.4%.
Median Sold Price Compared To Nearby Cities
| Inkster | $90.6K | $110K | +21.3% |
| Dearborn Heights | $181.3K | $205K | +13.0% |
| Dearborn | $229.9K | $260K | +13.0% |
| Redford | $155K | $170.8K | +10.2% |
| Allen Park | $196.6K | $215K | +9.3% |
Housing Supply in Dearborn Heights, MI
How many homes are available in Dearborn Heights, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 170 | 187 | +10.0% |
Summary: The Dearborn Heights real estate market had 187 homes for sale in October 2024, a 10.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 29 | 26 | -10.3% |
| 3 Bedrooms | 116 | 132 | +13.8% |
| 4 Bedrooms | 20 | 21 | +5.0% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The Dearborn Heights housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 61 | 57 | -6.6% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dearborn Heights, you could pay more than the asking price. 56.1% of homes here sold above asking price last month.
Summary: A total of 57 homes were sold or pending in Dearborn Heights in October 2024, down by 6.6% month-over-month. Of the 57 sold homes, 30% were sold under asking, 14% were sold at asking, and 56% were sold over asking.
Days on Market for Dearborn Heights, MI
How long does it take to sell a home in Dearborn Heights, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 21 Days | +29.3% |
Summary: Homes in Dearborn Heights had an average of 21 days on market in Oct 2024, up by 29.3% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dearborn Heights are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 57 homes were sold in Dearborn Heights; 81% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.