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From November through January, the median home sales price was $10,000 in Detroit.
Two bloggers over at Slate just picked up on this fact, and it was so astonishing, I had to look into it myself.
While the average Detroit listing price is $77,000, a sales price of $10,000 is actually an improvement over the previous three month period’s reported price of $7,500.
And Detroit’s not the only midwestern city hurting. Here are the median sales’ prices for Cleveland Ohio ($15,524) and Gary Indiana ($16,000)*
Image by Derek Farr, Flickr Creative Commons