🏠 Buying a house in Michigan | 🏘️ Selling a house in Michigan | 🚚 Moving to Michigan
🏡 Home values in Michigan have risen 11.49% over the past year, indicating a seller's market.
📈 Housing inventory (the total number of homes for sale) stands at 29,051. That's about 4.24 months of inventory, indicating a seller's market.
📊 The sale-to-list price ratio (the percentage of listing price sellers are actually getting) is 98.70%, indicating a seller's market.
How does Michigan compare to the national average?
| Data point | Value | Rank | Compared to national avg |
| Typical home value | $257,784[1] | #38 of 50 states | 31.4% lower |
| Median listing price | $299,900[2] | #42 of 50 states | 32.3% lower |
| Median sale price | $292,000[3] | #40 of 50 states | 33.3% lower |
| 30-year mortgage rate | 6.95%[4] | #15 of 50 states | 0.4% lower |
| Median days on market | 45[5] | #9 of 50 states | 23.5% shorter |
Looking to buy or sell in Michigan?
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Buying a house in the Michigan real estate market
Michigan has an affordability score of 4.2, meaning it takes 4.2 years of the median household income ($69,183) to afford Michigan's median home sale price ($292,000). Because of this, we rank Michigan as the 7th most affordable state for buyers based strictly on prices compared to income.
| Data Point | Value | Rank | Compared to national avg |
| Median sale price | $292,000[6] | #40 of 50 states | 33.3% lower |
| 30-year mortgage rate | 6.95%[7] | #15 of 50 states | 0.4% lower |
| Median household income | $69,183[8] | #38 of 50 states | 10.1% lower |
| Affordability ratio | 4.2 | #7 of 50 states | 24.3% lower |
| Buyers agent commission | 2.88%[9] | #43 of 50 states | 4.8% higher |
Who pays for realtor commission in Michigan?
Real estate agents' commissions are technically the responsibility of their respective clients - buyers pay their agents, and sellers pay theirs. Each party signs a contract with their agent promising to pay. However, sellers usually offer to pay for the buyer's agent so they can more easily afford the home.
Who pays closing costs in Michigan?
Sellers are usually responsible for most closing costs, but some closing expenses fall to the buyer. As a buyer, you'll be expected to pay for the mortgage loan origination fee and other lender-related fees, private mortgage insurance, the down payment, an appraisal fee, and a home inspection fee.
Learn more about who pays closing costs in Michigan.
Resources for Michigan home buyers
Preparing to buy in Michigan
Michigan home buying costs
Selling a house in the Michigan real estate market
According to our detailed survey of Michigan real estate agents, listing agents (those representing the seller) charge an average commission in Michigan of 2.85%, which is the 24th highest in the United States. Buyers' agents charge an average commission of 2.88%, which is the 8th highest in the United States.
| Data point | Value | Rank | Compared to national avg |
| Median listing price | $299,900[10] | #42 of 50 states | 32.3% lower |
| Median sale price | $292,000[11] | #40 of 50 states | 33.3% lower |
| Median days on market | 45[12] | #9 of 50 states | 23.5% shorter |
| Buyer's agent commission | 2.88%[13] | #43 of 50 states | 4.8% higher |
| Listing agent commission | 2.85%[14] | #27 of 50 states | 0.3% higher |
Resources for Michigan home sellers
Preparing to sell in Michigan
- Selling a House in Michigan: 8 Simple Steps
- Average Time to Sell a House in Michigan
- When Is the Best Time to Sell a House in Michigan?
- Top Real Estate Agents in Michigan
Michigan home selling costs and requirements
Moving to Michigan
According to our recent moving trends survey[15], 7% of Americans indicated that they would choose to move to Michigan if money were no object. Likewise, 6% of survey respondents indicated that they would move to Detroit among a choice of America's largest cities. Among medium-sized cities, 6% indicated that they would move to Grand Rapids.
Here's how Michigan cities rank in a number of our research studies.
| Study | Best Michigan city | Rank |
| Best Pizza Cities[16] | Detroit | 9th best |
| Best Coffee Cities[17] | Detroit | 45th best |
| Best LGBTQ Cities[18] | Detroit | 28th best |
| Best Bike Cities[19] | Detroit | 37th best |
| Best Commuter Cities[20] | Detroit | 45th best |
Where to shop for homes in Michigan
Frequently asked questions
As of October 10, 2025, the median days on market (DOM) in Michigan is 51. On average, it takes about 50 days to sell in Michigan.
Home values have risen in Michigan over the past year. The current median home value is $262,505 and it's projected to rise by 0.49% in the next year.
As of October 10, 2025, sellers in Michigan are typically getting 100% of the list price for their homes.
Methodology
Information on market conditions is based on Zillow data as of August 2025, Realtor.com data as of September 2025, and HouseCanary data as of October 10, 2025, unless specified otherwise.
We gathered our commission rate data from a September 2025 survey of 828 of agents nationwide. The survey asked about standard local rates for both listing and buying agents. These data points are averages based on responses we’ve received from 26 agents in Michigan.