Metro Detroit Housing Market Update: What’s Happening This October

As the fall season sets in, the Metro Detroit housing market continues to show resilience and adaptability amid shifting economic conditions. October brings cooler weather—but the market remains warm, with steady buyer demand and a balanced inventory that’s creating new opportunities for both homebuyers and sellers across the region.

Market Overview

This October, the Metro Detroit housing market has seen moderate activity compared to the busy summer months. While sales have slightly slowed down seasonally, home values continue to hold steady. According to recent MLS data, average home prices across Oakland, Wayne, and Macomb Counties remain close to last month’s levels, with some neighborhoods still seeing multiple-offer situations on well-priced listings.

Mortgage rates remain a key factor shaping buyer behavior. With rates fluctuating in the mid-to-high 6% range, some buyers are taking a more cautious approach—yet others are eager to lock in before potential future increases. Sellers, meanwhile, are pricing competitively to attract motivated buyers.

County Highlights

Oakland County

• Average Home Price: ~$390,000
• Average Days on Market: 24
• Market Trend: Steady prices with high demand for move-in-ready homes in communities like Rochester Hills, Troy, and Farmington Hills.

Wayne County

• Average Home Price: ~$245,000
• Average Days on Market: 28
• Market Trend: Continued growth in suburban areas like Dearborn and Livonia, while Detroit remains attractive for investors seeking long-term appreciation.

Macomb County

• Average Home Price: ~$315,000
• Average Days on Market: 21
• Market Trend: Strong buyer interest in Clinton Township and Sterling Heights, with well-priced listings selling quickly.

Buyer & Seller Insights

For Buyers: Fall is often an ideal time to purchase a home. With fewer competing buyers and sellers motivated before year-end, you may find more room to negotiate on price or closing costs. Be prepared to act fast on desirable listings, as inventory remains below pre-pandemic levels.

For Sellers: Now’s the time to showcase your home’s warmth and comfort. A well-staged home with seasonal touches—like cozy décor and inviting lighting—can help your property stand out. Pricing realistically remains key in this balanced market.

Looking Ahead

Experts predict Metro Detroit will continue to maintain stability through the end of the year. While we may see modest price adjustments in certain neighborhoods, the overall outlook remains positive. Strong employment numbers and consistent local demand suggest the housing market will finish 2025 on solid footing.

Thinking of buying or selling this season? Connect with your local Match Realty agent today for personalized insights and guidance tailored to your neighborh