Market Intelligence · MI / Farmington

Farmington, MI 48331 Housing Market

The typical home value in Farmington, MI 48331 is $465,487, up 2.2% over the past year. The median list price sits at $499,950, and homes are moving in a median of 31 days on market.

Updated August 2026Median value$460K

The median home value in Farmington, MI 48331 is $460K as of August 2026, up 2.2% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 48331 range

$423K to $497K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+2.2% over 12 months

Typical home value in 48331 over the last 12 months: $450K in Aug 2025 to $460K in Aug 2026 (+2.2%).

Aug 2025$450K

Aug 2026$460K

The numbers

What is the 48331 housing market like?

Typical home value

$460K

Up2.2%YoY

Median list price

$500K

Down3.9%MoM

Days on market

31

Flat0.0%MoM

Homes for sale

50

Up19.0%MoM

Price cuts

18.7%

Up8.0%MoM

New listings

28

Up7.7%MoM

Sources · Zillow ZHVI (August 2026) / Realtor.com (August 2026) / FRED (September 2026)

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The comparison

How do 48331 home prices compare?

  • 48331$460,057
  • Farmington$391,923
  • Michigan$243,093
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Farmington: 4 ZIPs; Michigan: 891 ZIPs; United States: 26,265 ZIPs).

Context

As of 2026-08-01, there are 50 homes for sale in Farmington, MI 48331, with 28 new listings hitting the market. The median list price is $499,950, above the typical home value of $465,487, which is up 2.2% over the past year. Homes are selling at a steady pace, with a median of 31 days on market. About 18.7% of listings have taken a price cut, which suggests some sellers are testing prices that buyers are not meeting. For a seller, the takeaway is simple: pricing in line with recent sales matters more than aiming high.

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