Foreclosure Homes in Ferndale, MI

Buyer vs Seller Market in Ferndale, MI

The current real estate market in Ferndale is characterized by low inventory and high demand, resulting in a competitive atmosphere for homebuyers. Many properties receive multiple offers, often above the asking price, as buyers are drawn to the city's unique charm and proximity to Detroit.

In recent months, new housing developments have begun to emerge, signaling growth in the market. The interest in urban living and affordability in Ferndale has garnered attention, making it a prime location for investment in residential properties.

Rent Prices In Ferndale, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Ferndale, MI, is on a rollercoaster ride. The average rent price in Ferndale, MI, is $1,142.00. Indeed, when looking to rent in Ferndale, MI, you can expect to pay as little as $720.00 or as much as $2,360.00, with the average rent median estimated to be $1,130.00. The good news is that finding an affordable and desirable property to rent in Ferndale, 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.