2017 saw quite a few million dollar sales around Detroit. Major properties have sold around the city, from downtown to Boston-Edison and Palmer Woods. The top sales of the year are a mix of condos, lofts, and historic homes, with the largest sale so far a private sale of the largest residence in Detroit.
All of our sales came in at $700,000 or more, with three mansions on Boston Boulevard snagging over $1 million each. The most notable was the sale of the Motown Mansion, which had been on the market for two years.
Will we see the million dollar trend continue in 2018? The demand to purchase homes is rising downtown, but only a few properties are listed right now in the city for over $1 million. We could likely see more condos selling at the $600-800,000 range, especially as more become available at City Modern.
2017 was indeed a memorable year for pricey real estate in Detroit.Read More