In the last few years, it seems as if prices for property in Detroit and Metro Detroit have gone up. It seems like just yesterday there were stories of houses for a dollar; but now, it’s gone pretty far in the other direction, with downtown penthouses listing for $3.2 million, and million-dollar condos in historic hotels.
But why? Well, it turns out Detroit is still affordable for buyers around the nation and, at least according to Eric Walstrom of @properties, an influx of people from around the nation moving to Detroit.
We get into the market demand side of this conversation on this episode. These shifts are changing Detroit and Metro Detroit and it’ll be a topic we revisit throughout the next year. Have a listen in the player below.