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The Best of Michigan Real Estate

Michigan Real Estate

Michigan real estate

Southern and Northern Michigan real estate markets, as with elsewhere in the nation, have been subject to various obstacles experienced by realtors and current and hopeful home purchasers. Detroit represents a particularly depressed area of Michigan real estate, one which has been linked to overall economic problems predating the challenges otherwise facing real estate in Michigan. The state capital of Lansing is another area of Michigan real estate noted for having experienced problems.


Each square foot of land in Detroit costs an average asking price of $71. This marker for the overall value of Detroit property has gone through some improvement between the 2009 and 2010 periods for Detroit Michigan property estimation as a whole, a change which has been identified as occurring at a 4.4% rate. In the most highly valued area of Detroit real estate, the neighborhood of Indian Village, residences cost, on average, $257,514.

Lansing real estate

Property estimation in the Michigan state capital of Lansing experienced some degree of improvement, a possible sign of positive change in the midst of a generally depressed marked for Lansing real estate, with each square foot of land in the city having appreciated in value at a rate of 5.2%. The average price for a Lansing residence is $95,822, with a median price of $78,639, and a home sales volume of 403 for the period between June and August 10, 2010.

NEXT: The Best of Michigan Realtors

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