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The
Detroit real estate market is as diverse as the city and
its population. The
name Detroit sometimes refers to the Metro Detroit area,
which is a sprawling region with a population of
4,488,335 for the Metropolitan Statistical area.
However, to get a better picture of the Detroit
real estate market, it makes sense to picture the area
as divided in to multiple communities, each with a
different ambience and pricing structure.
If
you look at the Detroit real estate market as three
segments, high, medium and low pricing, the following
statistics will |
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show
you what you can expect.
Low priced homes range from $59,000 and
below; medium priced homes range between $80,000
and $109,000; and high end properties generally
sell anywhere from $139,000 and up, with the
maximum pricing in 2006 at just about $500,000. |
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