Real Estate Market Update for 48124 (Dearborn, MI)
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Welcome to May's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was down 45% from one year earlier, and down 18% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 80-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up more than 100%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 80-thousand dollars. The number of units sold was consistent year-over-year, and increased 50% month-over-month. These latest figures could indicate that more buyers have been finding what they're looking for. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Map Information for 48124 (Dearborn, MI)
Area Information for 48124 (Dearborn, MI)
  • Population: 30,552
  • Median Age: 40.77 yr
  • Median Commute Time: 18.23 mins
  • Educational Climate*: 4
  • Sales Tax: 6%
  • Population Density: 3,450/sq mi
  • Population Change Since 2000: -7.96%
  • Closest Airport: Detroit Metropolitan Wayne County
  • Closest College: University Of Michigan-dearborn Campus
  • Closest Jr. College: Henry Ford Community College
  • Median Household Income: $60,587
  • Annual Residential Turnover: 6.27%
  • Median Years in Residence: 6.96 yr
  • Median Home Sales Price: $72,000
  • Closest Major Sports Team: Detroit Red Wings
  • Change Avg. Household Income Since 2000: 8%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 48124 (Dearborn, MI)
Median Age: 40.77 Married: 34% Number of Households: 13,837 Households with Children: 3,745
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 48124 (Dearborn, MI)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Duvall Elementary School 0.2 mi Public K-5 4 4
      Dearborn Christian School 0.4 mi Private PRESCHOOL-8 0 5
      Sacred Heart School 0.6 mi Catholic PRESCHOOL-8 0 4
      Whitmore-bolles Elementary School 0.6 mi Public PRESCHOOL-5 2 4
      Emmanuel Lutheran School 0.6 mi Private PRESCHOOL-8 0 4
      Edsel Ford High School 0.7 mi Public 9-12 3 3
      Henry Ford Academy 0.8 mi Public 9-12 2 4
      Dearborn High School 1.1 mi Public 9-12 4 4
      Smith Middle School 1.3 mi Public 6-8 2-5 3
      Nowlin Elementary School 1.3 mi Public K-5 2-5 4
      Snow Elementary School 1.5 mi Public PRESCHOOL-5 2-5 3
      Stout Middle School 1.7 mi Public 6-8 2-5 3
      Univ Of Michigan Dearborn Child Dev Ctr 1.7 mi Private PRESCHOOL-K 0 0
      Long Elementary School 1.8 mi Public PRESCHOOL-5 2-5 4
      Guardian Lutheran School 1.8 mi Private PRESCHOOL-8 0 5
      West Village Academy 1.9 mi Public K-8 2 2
      Howe Trainable Center And Montessori 1.9 mi Public PRESCHOOL-5 4-5 5
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2014
      Local Weather for 48124 (Dearborn, MI)
        Community information and market data Powered by Onboard Informatics. Copyright ©2014 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.