Taylor is the hottest city for first-time homebuyers, according to a new report from Re/Max of Southeastern Michigan in Troy.
According to the report, 235 homes have been sold in the city so far in 2024, at a median price of $154,000 after being on the market for 30 days.
“Despite inflation pressures and rising mortgage rates, there is still strong demand from first-time buyers throughout metro Detroit,” says Jeanette Schneider, president of RE/MAX of Southeastern Michigan. “Whether it’s a new job, a marriage or divorce, there will always be life events that necessitate moving and buying a home. Our ranking illustrates the hot points our agents and brokers are seeing throughout the region.”
Redford Township came in second place with 246 homes sold so far this year at a median price of $155,500 with homes on the market for 34 days. Dearborn Heights placed third in the Re/Max report with 286 homes sold, at $185,000, on the market for 35 days.
The rest of the list is as follows:
- Westland, 268, $195,000, 25
- Dearborn, 308, $235,00, 32
- Clinton Township, 154, $240,250, 33
- Livonia, 351, $277,500, 23
- Sterling Heights, $294,000, 34
- Royal Oak, 299, $338,500, 33
- Farmington Hills, 217, $359,000, 24
The list was compiled by reviewing the number of sales, median sales, price and days on market in communities throughout metro Detroit year-to-date. The cities are ranked according to median sales price (lowest to highest).
