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.
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.
FULL STORY: Downtown Detroit sales prices rise to 'insane' levels
New Life for Hotels in Downtown Detroit
A new talking point to support the idea of a comeback for Detroit: brisk business and new investment in the Downtown hotel market.
Renting on the Rise, With Consequences for Neighborhoods
A higher share of Americans are renters than at any point in decades. Neighborhoods all over the country, especially in downtowns, have many more renters than they did in 2010.
Price Cuts Spread to More of the U.S. Housing Market
The insanity of the housing market during the pandemic seems to have peaked in an increasing number of U.S. cities, according to recent data.
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.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
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?
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.
Portland Raises Parking Fees to Pay for Street Maintenance
The city is struggling to bridge a massive budget gap at the Bureau of Transportation, which largely depleted its reserves during the Civd-19 pandemic.
Spokane Mayor Introduces Housing Reforms Package
Mayor Lisa Brown’s proposals include deferring or waiving some development fees to encourage more affordable housing development.
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.
Gallatin County Department of Planning & Community Development
Heyer Gruel & Associates PA
JM Goldson LLC
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
City of Claremont