Dearborn, MI Foreclosures
How much do homes sell for in Dearborn, MI?
The average home price is currently $284,306.
In Dearborn, MI, how many homes are available?
There are currently 172 active home listings available in Dearborn.
What’s the average rental cost in Dearborn, MI?
The average rental price in Dearborn is $1,309.
What is the most expensive home in Dearborn?
The most expensive home sold in Dearborn had a price of $2,547,030.
What is currently the cheapest priced home in Dearborn, MI?
The cheapest home for sale in Dearborn is priced at $10,488.
Living in Dearborn, MI
Dearborn, Michigan, is a vibrant city known for its rich cultural heritage, particularly its strong Arab-American community. With a range of family-friendly neighborhoods, residents enjoy a high quality of life, supported by excellent schools and numerous parks. The city also boasts diverse dining options and access to several major highways, making it convenient for commuters.
Current Market Conditions in Dearborn, MI
The Dearborn real estate market is currently experiencing steady growth, with home values appreciating at a moderate pace. The demand for housing has remained strong due to the city's appealing neighborhoods and cultural offerings, drawing both first-time buyers and investors alike. Recently, there has been an increase in new home construction, particularly in areas undergoing revitalization, which is contributing to the overall market momentum.
The rental market has also been active, with many families looking to lease homes rather than purchase due to rising prices. This trend indicates a continued demand for rental properties, which is a positive sign for investors in the area. The local economy is stable, supported by major employers such as Ford Motor Company and several manufacturing firms, which helps sustain the job market and housing demand.
Home Value Estimator For Dearborn, MI
There are currently 32,690 real estate properties
in Dearborn, MI,
with a median automated valuation model (AVM) price
of $252,673.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Dearborn, MI, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Dearborn, MI,
is $284,306.00, with the most expensive house
in Dearborn, MI, topping out
at $2,547,030.00 and the cheapest home
in Dearborn, MI,
clocking in at $10,488.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Dearborn, MI!
Rent Prices
In Dearborn, MI
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Dearborn, MI, is on
a rollercoaster ride. The
average rent price in Dearborn, MI,
is $1,309.00. Indeed, when looking to rent in
Dearborn, MI, you can expect to pay as little
as $720.00 or as much
as $3,100.00,
with the average rent median estimated to
be $1,270.00. The good news is that finding
an affordable and desirable property to rent in Dearborn, 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.
Learn more on Foreclosure homes
