With only 1.2 months of inventory, Sterling Heights remains a seller's market. Home prices have increased 3.1% in the past month alone. At the current pace, all available homes in Sterling Heights would sell out in just 1.2 months, indicating a continued supply shortage. Homes are now taking an average of 20 days to sell, significantly longer than the 9 days typical for this market. Approximately 40.5% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Sterling Heights market with the affordability index at 18.9. Based on current market indicators, home prices in Sterling Heights are projected to increase by approximately 28.2% over the next month.
Sterling Heights, MI has a total population of 144,495 residents. The area is predominantly White (76.0%), The African American population is 5.4%. with Asian residents representing 5.8%. The area shows moderate demographic diversity. As a large population center, Sterling Heights, MI offers diverse community resources and amenities.
Crime analysis for Sterling Heights, MI shows 580 total incidents across all categories. The most prevalent crime type is Assault (61.2% of all incidents). This is followed by Property Crime at 31.7%. The crime rate in Sterling Heights, MI is moderate, with violent crimes being more common than property crimes. Residents and visitors should remain aware of their surroundings and take appropriate safety precautions.
Market predictions for Sterling Heights, MI show an upward trend in home prices, with values increasing by 8.0%. This indicates a moderate but notable price trend. The current median home price in Sterling Heights, MI is approximately $321,220.695. Based on current trends, home prices in Sterling Heights, MI are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Sterling Heights, MI features 1 investment hotspots with varying levels of activity. The low average nightly rate of $94 indicates a budget-friendly market. The average rating of 3.8/5 indicates moderate guest satisfaction. With an average hotspot score of 0.69, these areas show good investment opportunities. With only 3 hotels, this represents an emerging market with potential for growth.
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