Troy, Michigan Real Estate Market Report 2026

What's Happening in Troy Real Estate Right Now?

The Sonic team monitors Troy market conditions weekly, and here's what we're seeing. The Troy, Michigan real estate market continues to be dynamic, with a current median home price of $479,900. There are 95 active listings, and homes are spending an average of 68 days on the market. This indicates a balanced market, offering opportunities for both buyers and sellers. According to Sonic Loans, this level of inventory suggests that buyers have more choices, but sellers with well-priced homes are still seeing interest.

With homes selling in an average of 68 days, Troy exhibits a balanced market, providing opportunities for both buyers and sellers.

Is Troy a Buyer's or Seller's Market?

A question we frequently hear at Sonic is: "Should I buy now or wait?" For Troy residents, the current market is balanced, which means it is neither strictly a buyer’s nor a seller’s market. With 95 homes available and a median home price of $479,900, buyers have a good selection, and sellers with competitively priced homes can still close deals effectively.

How Do Current Interest Rates Affect Troy Buyers?

The national average 30-year mortgage rate is 6.16% according to the Freddie Mac Primary Mortgage Market Survey (PMMS). This rate impacts purchasing power, but Sonic Loans helps navigate these waters by offering diverse options like FHA loans with 3.5% down payments and VA loans for veterans. Our lending team in Troy emphasizes that while national rates affect affordability, our under 2-week average closing time can provide a significant edge, helping buyers secure homes quickly and efficiently.

Troy Price Trends: What's Next?

Sonic Realty agents on the ground in Troy are seeing stable price trends with a potential for slight appreciation given the balanced market conditions. The steady median price and consistent days on market suggest that Troy will maintain its current trajectory, with opportunities for both gradual appreciation and strategic buying.

Actionable Advice for Troy Buyers

Here are some strategic tips from Sonic Loans for those looking to buy in Troy:

Get pre-approved to understand your budget—consider programs like FHA and VA for favorable terms.
Work with local experts who understand Troy’s unique neighborhood characteristics.
Be ready to act quickly, as homes spend an average of 68 days on the market.
Consider the long-term potential of neighborhoods in Troy for appreciation.

Actionable Advice for Troy Sellers

For those looking to sell in Troy, consider these proven strategies:

Price your home competitively to attract interest in a balanced market.
Enhance curb appeal to make your property stand out.
Leverage professional staging to highlight your home's best features.
Work with Sonic Realty agents to tap into their local expertise and marketing reach.

Sellers we work with in Troy have found that these strategies often lead to quicker sales and better offers.

KEY TAKEAWAYS

The median home price in Troy is $479,900 with 95 active listings, indicating a balanced market.
Homes spend an average of 68 days on the market, providing opportunities for both buyers and sellers.
The national average 30-year mortgage rate is 6.16% according to Freddie Mac PMMS, affecting affordability but manageable with Sonic Loans' expertise.
Sonic Realty agents in Troy see stable price trends, suggesting a steady market outlook.
For personalized mortgage guidance, contact Sonic Loans at (313) 488-4888.

Whether you're looking to buy or sell in Troy, our team at Sonic is ready to assist with expert guidance tailored to your needs. Contact us today at (313) 488-4888 for a free consultation.

RATE DISCLAIMER

The rate of 6.16% referenced in this article is the national average 30-year fixed mortgage rate as reported by the Freddie Mac Primary Mortgage Market Survey (PMMS), published weekly and retrieved via Federal Reserve Economic Data (FRED). This is NOT an advertised rate or APR for any specific loan product offered by Sonic Loans.

Actual mortgage rates and Annual Percentage Rates (APR) offered by Sonic Loans will vary based on:

Credit score and credit history
Down payment amount
Loan amount and property value
Property type and location
Loan term and type

For current rate quotes and APR information specific to your situation, contact Sonic Loans at (313) 488-4888 or visit sonicloans.com. NMLS #1955855. Equal Housing Lender.

Fair Housing Notice: We are committed to the letter and spirit of the Fair Housing Act. We do not discriminate on the basis of race, color, religion, national origin, sex, familial status, or disability.

NMLS #1955855 | Equal Housing Lender

Rates shown are for informational purposes only and are subject to change. Your actual rate will depend on your credit score, loan amount, and other factors.

Sonic Loans is licensed in: Michigan, Florida, Texas, California, Colorado.