Report: Taylor is Southeast Michigan’s hottest city for first-time homebuyers

Taylor is the hottest city for first-time home buyers, according to a new report from Re/Max of Southeastern Michigan in Troy.

According to the report, so far in 2024, 235 homes have been sold in the city at an average price of $154,000 after being on the market for 30 days.

“Despite inflationary pressures and rising mortgage rates, there is still strong demand from first-time buyers in the Detroit metro area,” said Jeanette Schneider, president of RE/MAX of Southeastern Michigan. “Whether it’s a new job, marriage or divorce, there are always life events that necessitate moving and purchasing a home. Our rankings illustrate the hot spots our agents and brokers are seeing across the region.”

Redford Township ranked second with 246 homes sold this year at an average price of $155,500 and 34 days on the market. Dearborn Heights ranked third in the Re/Max report with 286 homes sold at an average price of $185,000 and 35 days on the market.

The rest of the list is as follows:

4. Westland, 268, $195,000, 25
5. Dearborn, 308, $235.00, 32
6. Clinton Township, 154, $240,250, 33
7. Livonia, 351, $277,500, 23
8. Sterling Heights, $294,000, 34
9. Royal Oak, 299, $338,500, 33
10. Farmington Hills, 217, $359,000, 24

The list was compiled by reviewing the number of sales, median sales, price and days on market in communities in the Detroit metropolitan area since the beginning of the year. Cities are sorted by median sales price (lowest to highest).