APRIL2019 Detroit Metrofiles.zillowstatic.com/research/public/realestate/... · APRIL2019 Detroit...
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www.zillow.com/research/ APRIL2019 Detroit Metro National Home Values Current: $226,800 Monthly Change: -0.1% Quarterly Change: 0.4% Annual Change: 6.1% Negative Equity*: 8.2% Detroit Home Values Current: $162,200 Monthly Change: 0% Quarterly Change: 0.9% Annual Change: 6.9% Negative Equity*: 9.1% Home Values Forecast (next 12 months) National: 2.8% Detroit Metro: 3.2% Major Cities - Home Values Warren Current: $137,900 Monthly Change: 0.4% Annual Change: 11% Sterling Heights Current: $208,100 Monthly Change: -0.1% Annual Change: 6.7% Livonia Current: $209,200 Monthly Change: 0% Annual Change: 5.1% Canton Current: $272,800 Monthly Change: 0.3% Annual Change: 5.1% Macomb Current: $303,900 Monthly Change: 0.2% Annual Change: 5.7% Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community City ZHVI Year-over-Year -9.9% - -8.3% -8.2% - -4.0% -3.9% - -1.4% -1.3% - -0.3% 0.1% - 2.6% 2.7% - 4.8% 4.9% - 7.5% 7.6% - 12.3% 12.4% - 20.9% Home Values (ZHVI) Increasing Values: 66.5% Decreasing Values: 27.1% Fall From Peak: 0% Peak ZHVI Date: 2019-04 Peak ZHVI: $162,200 Rent Zillow Rent Index: $1,228 Monthly Change: 0.2% Annual Change: 2.7% Rent List Price: $1,150 Rent List/Sq. Ft.: $1 Sales Median Sale Price: $– Monthly Change: –% Annual Change: –% Sale Price/Sq. Ft.: $– Sale-to-list Price Ratio: – Sold for a Loss/Gain: –%/–% Listings Median List Price: $200,000 Monthly Change: 5.3% Annual Change: -4.3% List Price/Sq. Ft.: $133 Listings with Price Cut: 15.1% Amount of Price Cut: 3.3% Foreclosures Homes Foreclosed: –/10, 000 Monthly Change: – Annual Change: – Foreclosure Resales: –% Monthly Change: –pp Annual Change: –pp How do we track home values? To track home values, we use the Zillow Home Value Index (ZHVI). The ZHVI is the mid-point of estimated home values for the area. Half the estimated home values are above this number and half are below. * Negative equity data is from 2018Q2.
Transcript of APRIL2019 Detroit Metrofiles.zillowstatic.com/research/public/realestate/... · APRIL2019 Detroit...
www.zillow.com/research/
APRIL2019 Detroit Metro
National Home Values
Current: $226,800Monthly Change: -0.1%Quarterly Change: 0.4%Annual Change: 6.1%Negative Equity*: 8.2%
Detroit Home Values
Current: $162,200Monthly Change: 0%Quarterly Change: 0.9%Annual Change: 6.9%Negative Equity*: 9.1%
Home Values Forecast
(next 12 months)
National: 2.8%Detroit Metro: 3.2%
Major Cities - Home Values
WarrenCurrent: $137,900Monthly Change: 0.4%Annual Change: 11%
Sterling HeightsCurrent: $208,100Monthly Change: -0.1%Annual Change: 6.7%
LivoniaCurrent: $209,200Monthly Change: 0%Annual Change: 5.1%
CantonCurrent: $272,800Monthly Change: 0.3%Annual Change: 5.1%
MacombCurrent: $303,900Monthly Change: 0.2%Annual Change: 5.7%
Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community
City ZHVI Year-over-Year-9.9% - -8.3% -8.2% - -4.0% -3.9% - -1.4% -1.3% - -0.3% 0.1% - 2.6% 2.7% - 4.8% 4.9% - 7.5% 7.6% - 12.3% 12.4% - 20.9%
Home Values (ZHVI)Increasing Values: 66.5%Decreasing Values: 27.1%Fall From Peak: 0%Peak ZHVI Date: 2019-04Peak ZHVI: $162,200
RentZillow Rent Index: $1,228
Monthly Change: 0.2%Annual Change: 2.7%
Rent List Price: $1,150Rent List/Sq. Ft.: $1
SalesMedian Sale Price: $–
Monthly Change: –%Annual Change: –%
Sale Price/Sq. Ft.: $–Sale-to-list Price Ratio: –Sold for a Loss/Gain: –%/–%
ListingsMedian List Price: $200,000
Monthly Change: 5.3%Annual Change: -4.3%
List Price/Sq. Ft.: $133Listings with Price Cut: 15.1%Amount of Price Cut: 3.3%
ForeclosuresHomes Foreclosed: –/10, 000
Monthly Change: –Annual Change: –
Foreclosure Resales: –%Monthly Change: –ppAnnual Change: –pp
How do we track home values? Totrack home values, we use the ZillowHome Value Index (ZHVI). The ZHVI isthe mid-point of estimated home valuesfor the area. Half the estimated homevalues are above this number and halfare below.
* Negative equity data is from 2018Q2.
APRIL2019
*The top 20 largest cities and top 10 (or all) counties within the metro are listed. Additional counties, cities, neighborhoods and ZIP codes may be
available online at www.zillow.com/research/data by emailing [email protected]
Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.
www.zillow.com/research/
Largest Cities Covered by Zillow
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Canton 272,800 0.3 1.5 5.1 1,792 0.3 0.3 5.5 3.4 4.3Clinton 1,292 0.2 0.2 2.8 5.7Dearborn 1,124 -0.1 -0.7 2.2 9.7Detroit 797 0.3 0.9 6.4 34.4Farmington Hills 268,700 -0.2 0.6 4.3 1,915 0.5 0.5 0.7 1.6 4.2Howell 253,700 -0.6 -0.5 3.7 1,668 0 0.2 9 0.8 3.2Livonia 209,200 0 0.9 5.1 1,423 0 0.4 6.5 2.8 4.9Macomb 303,900 0.2 1.7 5.7 1,942 -0.4 -1.4 2.1 3.4 2.8Pontiac 995 0 1 6 21.1Rochester Hills 324,700 0.2 1.2 5.6 2,094 0.2 0.9 2.4 2.8 4.1Royal Oak 246,400 -0.4 -0.3 3.7 1,672 0.2 0.2 1.3 0.4 7.1Shelby 277,500 -0.3 0.5 4.4 1,571 0.1 -1.2 -1 1.6 3.4Southfield 176,700 -0.2 1.8 9.9 1,455 0.3 1 4.4 5 11.4Sterling Heights 208,100 -0.1 1.3 6.7 1,530 0.3 1.4 7.7 3.2 4.0Taylor 105,600 0.2 1.7 9.5 1,002 0.4 0.8 0.5 5.4 12.1Troy 315,900 0.5 2 3.7 2,056 0.3 0.8 1 2.6 3.9Warren 137,900 0.4 1.9 11 1,211 0.4 0.4 1.3 5.8 11.6Waterford 172,700 -0.3 0.4 5.2 1,383 0.2 0.7 4.9 1.8 4.2West Bloomfield 312,900 0.4 1.6 7.5 2,173 0.1 -0.1 2.7 3.9 6.6Westland 139,200 0.3 1.5 6.7 1,139 0.2 0.2 3.7 3.7 8.8
Largest Counties Covered by Zillow
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Lapeer County 162,000 -0.6 -2.4 5.9 1,137 -1.6 -3.3 1.2 0.1Livingston County 262,800 -0.6 -1 3.8 1,741 0.1 0.8 8.9 0.2Macomb County 174,300 0 1 6 1,302 0.4 0.5 2.3 2.9Oakland County 250,400 0 1 4.3 1,706 0.1 0.5 2.5 2Saint Clair County 149,700 0.5 1.6 7.8 1,080 -0.7 -0.7 6.7 4.9Wayne County 81,400 -0.5 0.4 14 898 0.4 1.2 5.5 6.2
