Foreclosures in Farmington, MI 48331

Current Market Conditions in Farmington, MI

The real estate market in Farmington, MI, has shown resilience and growth in recent months, characterized by low inventory and increasing home prices. As buyers are eager to secure properties in this desirable area, the competition remains high, leading to quicker sales than seen in previous years.

Recent trends indicate a gradual increase in property values, making it an attractive market for both investors and first-time homebuyers. The average days on market has decreased, as homes are being snatched up quickly due to the appeal of the community and its amenities.

Rent Prices In Farmington, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Farmington, MI, is on a rollercoaster ride. The average rent price in Farmington, MI, is $1,649.00. Indeed, when looking to rent in Farmington, MI, you can expect to pay as little as $660.00 or as much as $3,310.00, with the average rent median estimated to be $1,640.00. The good news is that finding an affordable and desirable property to rent in Farmington, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.