Real Estate Market Update for 48124 (Dearborn, MI)

Video: Real Estate Community Tour for 48124 (Dearborn, MI)

See Real estate community tour for 48124 (Dearborn, MI)
Welcome to December's Market Update. Let’s take a look at residential real-estate activity in your area during the month of November. The number of active listings was up 78% from one year earlier, and down 26% from the previous month. Even so, buyers still enjoyed a greater selection of homes today than they did one year ago. As you can see, the median listing price for the month was just over 120-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 75%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 120-thousand dollars. The number of units sold increased more than 1000% year-over-year, and increased 12% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. 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.
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Map Information for 48124 (Dearborn, MI)
Area Information for 48124 (Dearborn, MI)
  • Population: 31,029
  • Median Age: 42.12 yr
  • Median Commute Time: 21 mins
  • Educational Climate*: 4
  • Sales Tax: 6%
  • Population Density: 3,504/sq mi
  • Population Change Since 2000: -6.47%
  • Closest Airport: Detroit Metropolitan Wayne County
  • Closest College: University Of Michigan-dearborn Campus
  • Closest Jr. College: Henry Ford Community College
  • Median Household Income: $58,059
  • Annual Residential Turnover: 9%
  • Median Home Sales Price: $94,950
  • Closest Major Sports Team: Detroit Tigers
  • Change Avg. Household Income Since 2000: 7.74%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 48124 (Dearborn, MI)
Median Age: 42.12 Married: 39% Number of Households: 13,340 Households with Children: 3,342
    • 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 School Rating Parent Rating
      Duvall Elementary School 0.2 mi Public K-5 3 0
      Sacred Heart School 0.5 mi Catholic PRESCHOOL-8 0 0
      Whitmore-bolles Elementary School 0.6 mi Public PRESCHOOL-5 2 0
      Emmanuel Lutheran School 0.6 mi Private PRESCHOOL-8 0 0
      Henry Ford Academy 0.8 mi Public 9-12 2 4
      Edsel Ford High School 0.8 mi Public 9-12 2 4
      Dearborn High School 1.1 mi Public 9-12 3 3
      Nowlin Elementary School 1.3 mi Public PRESCHOOL-5 1 0
      Smith Middle School 1.3 mi Public 6-8 3 0
      Snow Elementary School 1.5 mi Public PRESCHOOL-5 3 0
      University Of Michigan - Early Childhood Education Center 1.7 mi Private PRESCHOOL-K 0 0
      Stout Middle School 1.7 mi Public 6-8 2 0
      Guardian Lutheran School 1.8 mi Private PRESCHOOL-8 0 0
      Long Elementary School 1.8 mi Public K-5 3 0
      West Village Academy 1.9 mi Public K-8 1 0
      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: Onboard Informatics © 2016. School Performance data by School Review data by
      Local Weather for 48124 (Dearborn, MI)
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 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.