Coming soon
$618 Closing Credit¹
#20250014774, Erick Monzo, Roderick Fletcher Sr, Listing Office: Keller Williams Realty-Great Lakes
Lafayette Park Housing Market Report February 2025•Wayne County, Michigan
Housing Prices in Lafayette Park, MI
How much do homes in Lafayette Park, MI cost?
Housing Market Conditions
Is Lafayette Park, MI a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Lafayette Park is a Buyer's Market
Difference Since February 2024
At the same time last year, Lafayette Park was a Neutral Market.
Insight
Lafayette Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Median Sold Price
$117,500$115/SqFt
-$21,388
-15.4%
Based on all homes sold in the last 12 months
Insight
Homes in Lafayette Park have sold for 15.4% less than they did a year ago.
Summary: The median home sold price in Lafayette Park was $117,500 in February 2025, down 15.4% from last year, and the median price per square foot was $115.
Median Sold Price By Neighborhoods
| City | Feb 2024 | Feb 2025 | Change YoY |
|---|---|---|---|
| Lower East Central | $139.5K | $179.9K | +29.0% |
| Elmwood | $158K | $192.5K | +21.8% |
| Downtown | $302.5K | $325K | +7.4% |
| Lafayette Park | $138.8K | $117.5K | -15.4% |
Median Sold Price By Bedrooms
| Beds | Feb 2024 | Feb 2025 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $77.5K | $90K | +16.1% |
| 22 Bedrooms | $110K | $115K | +4.5% |
| 33 Bedrooms | $305K | $360K | +18.0% |
| 44 Bedrooms | $347.5K | $212.5K | -38.8% |
| 55+ Bedrooms | - | - | N/A |
Summary: Lafayette Park housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +16.1%. The home price for 2 bedroom homes increased by +4.5%. The home price for 3 bedroom homes increased by +18.0%. The home price for 4 bedroom homes decreased by -38.8%. The home price for 5 bedroom homes did not change.
Housing supply in Lafayette Park, MI
How many homes are available in Lafayette Park, MI?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 31Last MonthFeb 2025 | ||
| 312 months agoJan 2025 | 0.0 % Change MoMJan – Feb |
Summary: The Lafayette Park real estate market had 31 homes for sale in Feb 2025, the same as Jan 2025
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 1Last MonthFeb 2025 | ||
| 12 months agoJan 2025 | 0.0 % Change MoMJan – Feb |
Homes For Sale By Bedroom Count
| Beds | Jan 2025 | Feb 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 15 | 17 | +13.3% |
| 22 Bedrooms | 8 | 8 | 0.0% |
| 33 Bedrooms | 6 | 4 | -33.3% |
| 44 Bedrooms | 2 | 2 | 0.0% |
| 55+ Bedrooms | 0 | 0 | 0.0% |
Summary: Lafayette Park housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +13.3%. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -33.3%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.
Asking Price vs. Sold Price
How much do homes in Lafayette Park, MI cost?
Over Asking Price1 Home
At Asking Price0 Home
Under Asking Price0 Home
Insight
If you're buying a home in Lafayette Park, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Lafayette Park in February 2025, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and and 100% were sold over asking.
Days on Market for Lafayette Park, MI
How long does it take to sell a home in Lafayette Park, MI?
Breakdown of Home Sale Times
Under 30 Days0 Home
30 – 90 Days0 Home
Over 90 Days1 Home
Insight
Most homes in Lafayette Park are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During February 2025, 1 homes were sold in Lafayette Park; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 149 DaysThis YearFeb 2025 | ||
| 59 Days1 year agoFeb 2024 | +151.1 % Change YoYFeb 2024 – Feb 2025 |
Summary: Homes in Lafayette Park had an average listing age of 149 days in Feb 2025, up by 151.1% compared to the previous year.
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Newest Listings in Lafayette Park, MI
What homes are available in Lafayette Park, MI?
New - 3 days on Rocket
$1,176 Closing Credit¹
#20250014979, Jason Hill, Listing Office: Historic Realty Detroit
New - 5 days on Rocket
$3,325 Closing Credit¹
#20250014536, Jerome Huez, Listing Office: Berkshire Hathaway HomeServices The Loft Warehouse
New - 6 days on Rocket
$4,691 Closing Credit¹
#20250013999, Elizabeth D Tintinalli, Listing Office: @properties Christies Intl R.E. Detroit
$1,009 Closing Credit¹
#20250012991, Alan Beeks, Listing Office: EXP Realty Main
$1,389 Closing Credit¹
#20250013040, Robi Redzic, Listing Office: EXP Realty Main
$641 Closing Credit¹
#20250009551, Adrienne Stewart, Listing Office: Keller Williams Home
$1,009 Closing Credit¹
#20250006405, Jim Shaffer, Listing Office: Good Company
$949 Closing Credit¹
#20250005750, Isaac Oserin, Listing Office: OConnor Realty Detroit, LLC
$1,069 Closing Credit¹
#20250002350, Naiiva Golden, Listing Office: Michigan Premier Realty Group LLC
$2,018 Closing Credit¹
#20250005288, Douglas J Carter, Listing Office: Brookstone, Realtors LLC
Backup offers
$623 Closing Credit¹
#20250002453, Isaac Oserin, Listing Office: OConnor Realty Detroit, LLC
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MLS Disclaimers and Copyright
Based on information from RealComp II Ltd., for the period 03/01/2023 - 03/01/2025
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.
IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/10/2025, 10:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.