Posted 11/20/2023, 3:27:00 PM
Detroit Ranks Top 10 for Luxury Housing as Auto Industry Fuels Demand
- Detroit ranked #9 in luxury housing markets index due to high demand and limited inventory driving up prices
- Prices still low compared to other luxury markets, with median luxury listing price of $733K
- Auto industry driving demand as transition to electric cars brings in new talent
- Birmingham is metro's most exclusive area with new $2M-$3M luxury developments
- Bloomfield Hills and Royal Oak also seeing luxury home construction and price growth from buyers priced out of Birmingham