Real Estate Market Update for Dearborn, MI

Video: Real Estate Community Tour for Dearborn, MI

See Real estate community tour for Dearborn, MI
Welcome to November's Market Update. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was up nearly 125% from one year earlier, and down 9% 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 under 140-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 57%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 150-thousand dollars. The number of units sold increased nearly 500% year-over-year, and decreased 14% month-over-month. Higher year-over-year figures 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.
Show Transcript
Map Information for Dearborn, MI
Area Information for Dearborn, MI
  • Population: 98,551
  • Median Age: 34.01 yr
  • Median Commute Time: 22 mins
  • Educational Climate*: 3
  • Sales Tax: 6%
  • Population Density: 4,067/sq mi
  • Population Change Since 2000: .81%
  • Closest Airport: Detroit Metropolitan Wayne County
  • Closest College: University Of Michigan-dearborn Campus
  • Closest Jr. College: Henry Ford Community College
  • Median Household Income: $47,369
  • Annual Residential Turnover: 12%
  • Median Home Sales Price: $100,000
  • Closest Major Sports Team: Detroit Tigers
  • Change Avg. Household Income Since 2000: 10.34%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Dearborn, MI
Median Age: 34.01 Married: 40% Number of Households: 34,527 Households with Children: 12,151
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 Dearborn, MI

      School Name Distance Type Grades School Rating Parent Rating
      Henry Ford Early College 1.0 mi Public 9-12 4 3
      Henry Ford Elementary School 1.0 mi Public K-5 2 0
      Henry Ford Academy 1.1 mi Public 9-12 2 4
      University Of Michigan - Early Childhood Education Center 1.3 mi Private PRESCHOOL-K 0 0
      The Dearborn Academy 1.4 mi Public K-8 2 0
      Muslim American Youth Academy 1.4 mi Private PRESCHOOL-8 0 0
      Stout Middle School 1.4 mi Public 6-8 2 0
      Emmanuel Lutheran School 1.6 mi Private PRESCHOOL-8 0 0
      Sacred Heart School 1.7 mi Catholic PRESCHOOL-8 0 0
      Edsel Ford High School 1.8 mi Public 9-12 2 4
      Duvall Elementary School 1.8 mi Public K-5 3 0
      Snow Elementary School 1.8 mi Public PRESCHOOL-5 3 0
      Woodworth Middle School 1.8 mi Public 6-8 2 3
      Geer Park Elementary School 1.9 mi Public K-5 3 0
      William Ford Elementary School 2.1 mi Public K-5 2 0
      Dearborn High School 2.2 mi Public 9-12 3 3
      Whitmore-bolles Elementary School 2.2 mi Public PRESCHOOL-5 2 0
      Howard Elementary School 2.3 mi Public K-5 4 0
      Creative Learning Center Dearborn 2.4 mi Public 9-12 0 0
      Maples Elementary School 2.4 mi Public K-5 3 0
      Fordson High School 2.4 mi Public 9-12 2 4
      Charles A. Lindbergh Elementary School 2.5 mi Public K-5 4 0
      Academy For Business And Technology Elementary 2.5 mi Public K-5 1 0
      Cotter Early Childhood Center 2.6 mi Public PRESCHOOL-PRESCHOOL 0 0
      Miller Elementary School 2.6 mi Public K-5 2 0
      Bryant Middle School 2.7 mi Public 6-8 4 0
      Riverside Academy - West Campus 2.8 mi Public 6-12 2 4
      Guardian Lutheran School 2.8 mi Private PRESCHOOL-8 0 0
      Advanced Technology Academy 2.9 mi Public PRESCHOOL-12 1 0
      Oakman Elementary School 2.9 mi Public K-5 2 0
      Nowlin Elementary School 3.0 mi Public PRESCHOOL-5 1 0
      Smith Middle School 3.0 mi Public 6-8 3 0
      Lowrey Middle School 3.1 mi Public 6-8 3 0
      Lowrey Elementary School 3.1 mi Public PRESCHOOL-5 2 0
      Haigh Elementary School 3.1 mi Public PRESCHOOL-5 4 0
      Divine Child High School 3.1 mi Catholic 9-12 0 4
      Divine Child Elementary School 3.1 mi Catholic K-8 0 0
      Great Revelations Academy 3.2 mi Private K-8 0 0
      Unis Middle School 3.3 mi Public 6-8 2 3
      Mccollough Elementary School 3.3 mi Public PRESCHOOL-5 2 0
      Iris Becker Elementary School 3.4 mi Public K-5 4 0
      Riverside Academy 3.5 mi Public K-5 1 0
      Long Elementary School 3.5 mi Public K-5 3 0
      West Village Academy 3.6 mi Public K-8 1 0
      Salina Elementary P - 3 3.7 mi Public PRESCHOOL-3 0 0
      Salina Intermediate 4 - 8 3.8 mi Public 4-8 2 0
      Mcdonald Elementary School 4.0 mi Public K-5 2 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 SchoolDigger.com. School Review data by Niche.com.
      Local Weather for 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.