Wayne & Oakland County Housing Market Update: More Homes, More Opportunity, Still Strong Prices

Spring has officially arrived in Southeast Michigan's real estate market, and April's numbers show a market that is becoming more balanced while continuing to reward well-prepared buyers and sellers.

According to the latest market statistics from Realcomp, inventory is growing, home prices continue to rise, and buyers are seeing more choices than they have in recent years. For homeowners and future homeowners in Wayne and Oakland Counties, that's creating opportunities on both sides of the transaction. 🌷🏡

More Homes Are Coming to Market

One of the biggest stories from April was the increase in available inventory.

New listings rose 2.9% year-over-year, while the total inventory of homes for sale increased 13.3%. Month-over-month inventory jumped an impressive 12%. This means buyers shopping throughout communities such as Livonia, Canton, Plymouth, Northville, Novi, Farmington Hills, Royal Oak, Birmingham, Troy, and Rochester are beginning to see more options than they did during the ultra-competitive markets of the past few years.

For sellers, more competition means pricing and presentation matter more than ever. The homes that are properly prepared, professionally marketed, and strategically priced continue to attract strong interest.

Home Values Continue to Climb

Despite increased inventory, home values remain resilient.

The median sale price across the market climbed 5.3% year-over-year, rising from $272,500 to $286,950. Month-over-month prices increased another 5.5%, showing that buyer demand continues to support home values across Southeast Michigan.

In many Wayne and Oakland County communities, desirable neighborhoods, updated homes, and move-in-ready properties are still generating significant attention from buyers.

Buyers Are Gaining Breathing Room

While homes are still selling quickly, the market pace has moderated slightly.

Average days on market increased from 39 days to 43 days year-over-year. At the same time, the average number of showings per listing dipped slightly from 7.1 to 6.7.

Translation? Buyers may have a little more time to evaluate their options, schedule inspections, and make thoughtful decisions compared to the intense bidding wars that defined previous years.

That doesn't mean buyers should wait too long. Many well-priced homes in desirable Wayne and Oakland County neighborhoods continue to move quickly, especially those that are updated and priced appropriately.

Sellers Are Still Receiving Strong Offers

Even with additional inventory entering the market, sellers are still receiving nearly full asking price.

The percentage of last list price received remained extremely strong at 99.1%, demonstrating that buyers are willing to pay competitive prices for homes that meet their needs.

This is encouraging news for homeowners considering a move in 2026. While the market may be shifting toward greater balance, it remains far from a buyer's market.

What This Means for Wayne & Oakland County Residents

The current market feels less like a sprint and more like a strategic chess match. ♟️

For buyers:
• More inventory means more choices.
• Less pressure than previous years may create negotiating opportunities.
• Rising prices suggest waiting could still cost more in the long run.

For sellers:
• Home values remain strong.
• Proper preparation and pricing are critical.
• Buyers are active and motivated when homes are positioned correctly.

As we move deeper into the spring and summer selling season, all signs point toward continued activity across Wayne and Oakland Counties. The market is becoming healthier, with more inventory supporting buyer demand while still maintaining strong home values.

Whether you're thinking about buying your first home, moving up, downsizing, or simply curious about your home's current value, understanding your local market is the first step toward making a confident real estate decision.

Source: Realcomp April 2026 Single-Family Home Sales Statistical Highlights.