Comping Homes in Detroit

[Caleb Johnson]

Hello, I was trying to comp some houses in Detroit and I found that almost all of the recently sold homes in the area didn't have pictures of the interior of the homes on zillow or anywhere else. However, on the other side of the state there were interior pics of the homes that sold from months and years ago. Are there some local laws I am unaware of or why is this happening? Also how do I comp homes in metro Detroit if I cant see what the nearby homes that sold actually look like? I do not like using on market homes since they are typically overpriced and haven't actually sold yet. Thank you! 

[Travis Biziorek]

Hey Caleb,

The short answer is yes—MLS systems are regional, so photo availability and listing practices can vary quite a bit. That said, even with photos, comping homes in Detroit proper is extremely difficult. You’ll often see sales with 100-200% swings within the same area, which makes having deep local knowledge and understanding the nuances absolutely critical.

I do this for a living, and even with experience, comping in Detroit can still be challenging. Whether you’re looking at SFHs, duplexes, or other properties, it’s important to pair on-paper data with boots-on-the-ground knowledge to really get a sense of values.

If you’re considering anything serious in Detroit, I’d recommend connecting with someone who knows the market inside and out. If you let us know more about what you're trying to accomplish I may be able to point you in the right direction.

—Travis