Real Estate Prices Booming in Downtown Detroit

As downtown real estate prices soar, similar to other cities in the United States, it's possible to see signs of recovery around Detroit. Other parts of the city, however, are not seeing the same changes.

1 minute read

April 26, 2016, 11:00 AM PDT

By James Brasuell @CasualBrasuell


Detroit

Linda Parton / Shutterstock

John Gallagher reports: "Greater downtown Detroit residential real estate — a near-dead market only a few years ago — is now soaring with a few property owners even listing their downtown and Midtown properties for fantasy prices running into the millions of dollars."

According to Gallagher, the price spikes apply only in the greater downtown area and some of Detroit's historic districts, such as Sherwood Forest and Palmer Woods.

In much of the rest of the city, home sale prices, while rising, remain depressed. In hard-hit neighborhoods such as Brightmoor on Detroit's far west side, median home sales prices, while improving slightly, have hit just $15,000 so far this year.

Gallagher describes the real estate boom in downtown as a sign of recovery, with additional hanges like a "new arena district, the M-1 Rail (Qline) opening next year, and more" coming online, it could be that real estate prices continue to rise in the urban core and historic parts of Detroit.

Sunday, April 24, 2016 in The Detroit Free Press

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 2, 2025 - Diana Ionescu

Map of Haussmann's redesign of Paris in the 1850s through 1870s under Napoleon III.

In Urban Planning, AI Prompting Could be the New Design Thinking

Creativity has long been key to great urban design. What if we see AI as our new creative partner?

June 30, 2025 - Tom Sanchez

Sign in front of building for seior services center in St. Petersburg, Fl.

Florida Seniors Face Rising Homelessness Risk

High housing costs are pushing more seniors, many of them on a fixed income, into homelessness.

1 hour ago - WESH

Boston Red Line train with skyline in background.

Massachusetts Budget Helps Close MBTA Budget Gap

The budget signed by Gov. Maura Healey includes $470 million in MBTA funding for the next fiscal year.

2 hours ago - Smart Cities Dive

View down center of street in Milwaukee, Wisconsin

Milwaukee Launches Vision Zero Plan

Seven years after the city signed its Complete Streets Policy, the city is doubling down on its efforts to eliminate traffic deaths.

3 hours ago - Urban Milwaukee

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.

Associate/Senior Planner

Gallatin County Department of Planning & Community Development

Senior Planner

Heyer Gruel & Associates PA