Michigan
Local Housing Market · Zillow ZHVI · September 2026
$263,760
Typical Home Value
▲ 3.8% YoY ▲ 0.11% MoM
7.40%
30Y Mortgage Rate
PMMS · Oct 15, 2026
121bps
YoY Rate Change
▲ Higher than 1yr ago
230bps
30Y/10Y Spread
Norm ~170bps
🏘 Michigan Home Values
Zillow Home Value Index (ZHVI)
ZillowTypical Home Value
$263,760
▲ 3.8% YoY
Month-over-Month
▲ 0.11% MoM
September 2026
Data Period
September 2026
Updated monthly
Zillow ZHVI · State-level · Smoothed, seasonally adjusted · Updated monthly
📊 National Mortgage Rates
Current Mortgage Rates
Freddie Mac PMMS30Y Fixed
7.40%
PMMS · Oct 15, 2026
15Y Fixed
6.71%
PMMS · Oct 15, 2026
1yr Ago 30Y
6.19%
▲ Rates higher now
30Y/10Y Spread
230bps
Normal · norm ~170bps
Freddie Mac PMMS via FRED · National rates · State-specific rates may vary slightly
📋 Realtor.com Market Data · Michigan
Market Indicators
REALTOR.COM🏦 LO Market Signal · September 2026
• Inventory is up 15.8% YoY and listing prices are flat 0.0% YoY with 21.7% of listings carrying a price cut. Pricing is stable — comps should be reliable.
• Homes are selling in a median 47 days — a moderate-paced market. Pending ratio is 0.46 — moderate demand, purchase timelines are manageable.
• New listings are declining 2.5% YoY. Fewer new listings may constrain purchase pipeline — focus on pre-approvals to capture demand early.
Median Listing Price
$299,900
0.0% YoY
Median Days on Market
47d
0d YoY
Active Listings
29,277
▲ 15.8% YoY
New Listings
12,300
▼ 2.5% YoY
Price Reduced Share
21.7%
of active listings
Pending Ratio
0.46
pending ÷ active
Realtor.com Research · State-level inventory data · Updated monthly
Hottest Markets in Michigan
REALTOR.COMTop metros by national hotness rank (supply + demand composite) · September 2026
Monroe
▼ COOLING
National rank #11
Median Price
$309,900
Median DOM
39d
Demand score 99/100
Lansing-East Lansing
▼ COOLING
National rank #34
Median Price
$246,400
Median DOM
36d
Demand score 76/100
Grand Rapids-Wyoming-Kentwood
▼ COOLING
National rank #44
Median Price
$419,900
Median DOM
38d
Demand score 71/100
Realtor.com Hotness Index · Metro-level · Higher demand score = more buyer activity relative to supply