Southeast Michigan Housing Market Update — October 2026

Every month I break down what's actually happening in the Metro Detroit market — real numbers, not headlines — so you know what your home is worth and what to expect if you're buying. Here's what September's closings tell us. This month's numbers come from Realcomp, Michigan's largest MLS, so they won't line up exactly with earlier updates, which used a different report.

The headline: more homes for sale, and prices still rising

The median sale price across Metro Detroit (Wayne, Oakland, Macomb and Livingston counties) was $300,000 in September — up 4.3% from $287,700 a year ago, according to Realcomp. Fewer homes changed hands: 3,894 sales versus 4,236 last September, down 8.1%. The average home took 30 days to sell, two days longer than a year ago. The real story is supply: 12,873 homes were on the market at the end of September, up 14.5% from 11,243. Across Realcomp's whole coverage area, which reaches beyond Metro Detroit, supply stood at 3.4 months and homes sold for 98.3% of their last asking price on average.

County by county

Livingston County was the only one of the four to sell more homes than last year (249 vs. 238), and its average time to sell fell to 26 days from 38. Its median rose 2.5% to $415,000. Oakland County gained 2.3% to $383,500 with sales down 4.3%, and its inventory jumped 25.4%. Macomb County rose 2.8% to $281,500, but sales fell 13.3% (871 vs. 1,005) and inventory climbed 21.2%. Wayne County gained 2.3% to $219,950, with sales down 10% and 32 days on market, up from 29. The city of Detroit's median rose 5.8% to $100,500 on 396 sales.

Closer to home: Dearborn and Dearborn Heights

Realcomp tracks Dearborn and Dearborn Heights together. In September, 125 homes sold there versus 131 a year ago, and the median rose 1.9% to $265,000. Homes averaged 24 days on market — up from 18 last September, but still quicker than any of the four counties — and 322 homes were for sale at month's end, up 9.9%. Well-priced homes here still move fast.

Mortgage rates: the highest in almost three years

The 30-year fixed averaged 7.32% on October 22 per Freddie Mac, down from 7.40% in each of the two weeks before, the highest weekly average since November 2023. When I wrote last month's update it was 6.95%; a year ago it was 6.19%. The 15-year sits at 6.68%. Nobody can promise where rates go next: buy the house that works at today's payment, and if rates come down later, you refinance.

What this means if you're selling

Prices are still up, but you have more competition than you've had in a while: inventory is up double digits in Oakland, Macomb and Livingston, and with rates above 7%, buyers compare every dollar of payment. The market rewards homes that are priced right, not homes that chase a number and cut later. The playbook: prep the house before listing and price from this fall's comps, not from last spring's. If you want to know what your home would actually sell for right now, I'll run the comps for you free — no pressure, no obligation.

What this means if you're buying

You have more choice than a year ago: 14.5% more homes on the market, and 30 days on average to sell means many sellers will talk. Yes, 7.32% stings, so re-run your numbers and know your payment ceiling, not just your price ceiling. Get pre-approved and ready, target the homes that have sat a few weeks, and negotiate on more than price — a seller credit or rate buydown can matter more than the sticker.

Sources: Realcomp II Ltd., September 2026 Statistical Highlights and Listing and Sales Summary Report (data current as of October 7, 2026); Freddie Mac Primary Mortgage Market Survey, October 22, 2026, and its weekly rate history. Market data reflects September 2026 closings; Metro Detroit figures cover Livingston, Macomb, Oakland, and Wayne counties.