"The median sales price for homes in the city in August increased 50 percent year over year to $36,000 — the biggest jump in metro Detroit, according to new data released Thursday by Farmington Hills-based Realcomp Ltd. II. The number of total sales in the city increased 14.7 percent to 414." From Crain's

On the surface that sounds good, and up is always good, but the median is so far below the metro median of $176K as to make the percentage increase more dramatic than it really is. I am curious how much of that is boosted by higher new housing sales, removal of available properties by demolition and speculation created by Detroit's improving image. Housing supply remains low everywhere.

Nonetheless, it should bode well for Wayne County with its upcoming auction of tax delinquent properties as well as for the property tax coffers for both the city and county.