The housing market in Michigan was slammed during the recession and while it's starting to make a comeback, the state is still home to some of the most affordable housing in the country.
Four of the 18 most affordable housing markets identified in Coldwell Banker's new home price listing report were located in the state. And Redford, near Detroit and Ann Arbor, was named the most affordable housing market, with an average listing price of $60,490.
For context, the average 4-bedroom, 2-bathroom home in the United States is listed at $292,152. The most expensive housing market is Los Altos, Calif., where the average home is listed for $1.706 million.
To come up with the list, Coldwell Banker looked at 72,000 4-bedroom, 2-bathroom properties for sale in 2,500 U.S. markets.
#18 WARREN, MICH: The average listing price of a home is $96,349.
This house is on sale for $98,000 in Warren, Mich.
Note: To compile its list of the most expensive real estate markets, Coldwell Banker looked at 72,000 4-bedroom, 2-bathroom properties for sale in 2,500 U.S. markets.
#17 TERRELL, TEXAS: The average listing price of a home is $96,329.
This house is on sale for $99,000 in Terrell, Texas.
Note: To compile its list of the most expensive real estate markets, Coldwell Banker looked at 72,000 4-bedroom, 2-bathroom properties for sale in 2,500 U.S. markets.
#16 LEHIGH ACRES, FLA: The average listing price of a home is $92,819.
This house is for sale for $90,000 in Lehigh Acres, Fla.
Note: To compile its list of the most expensive real estate markets, Coldwell Banker looked at 72,000 4-bedroom, 2-bathroom properties for sale in 2,500 U.S. markets.
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