Detroit Home Sale Prices Up Year Over Year

At the end of 2018, Realcomp released a year over year comparison of Detroit Real Estate showing the median home sale in Detroit has increased 150 percent since 2014. As of December 2018 the median home price increased to $35,000. Detroit Curbed reports that "the increase in value is a welcome sign to homeowners". The gap between pricing of downtown houses and houses in Detroit proper still looms large though. The median pricing of downtown homes rang in at a whopping $229,250. While revitalization is proving to be implemented slower in areas outside of the downtown core, at Rondo we believe this is still a good sign of things to come for the Detroit market. The increase in median prices overall is a positive development and according to Detroit Curbed, is forecaster to continue in 2019. While the weather may be cold in Detroit at Rondo Investment we believe that no matter the season the market is always hot!

Detroit Curbed article can be found here -