August 2026 Shelby Township Market Report

The month in brief

More sales, steady prices, a looser condo market

Shelby Township had a strong August for volume. 71 homes closed, up 31.5%, and buyers signed 71 new contracts, up 36.5%. Sellers listed 109 homes, up 28.2%, which lifted inventory 7.9% to 177.

Prices held. The median was $465,000, up 0.3%, and year to date the median is $469,850, up 4.4%. Sellers received 99.4% of list price, down from 100.0%.

Homes are taking longer. The median home sold in 30 days, up from 22 a year ago, though the year-to-date figure of 36 days is slightly faster than 2025.

Condos loosened. Condo inventory rose from 37 to 65 units and months of supply from 1.9 to 3.3. The August condo median fell to $257,000, but the year-to-date condo median of $274,950 is up 1.1%.

The numbers, visually

Where Shelby Township moved

August 2025 compared with August 2026, residential and condo.

Charts plotted from Realcomp figures for Shelby Twp. Under about four months of supply generally favors sellers; four to six months is considered balanced; above six generally favors buyers.

Segment detail

Residential: more sales, slightly slower

At 3.4 months of supply, Shelby Township remains a seller’s market, but it’s one of the roomier markets in the county. Closings are up 8.4% for the year and pending sales are up 7.5%.

The average sale price fell 3.3% in August to $506,732, while the year-to-date average is up 3.1%. Prices are steady; the monthly dip reflects which homes closed.

Median and average prices do not account for sale concessions or down-payment assistance. Inventory and months supply are point-in-time measures and are not reported year to date.

Segment detail

Condos: supply nearly doubled

Condo sellers listed 272 units year to date, up 27.7%, while closings rose 1.9%. That pushed condo inventory to 65 units and months of supply to 3.3, close to the balanced range.

The condos that are priced right are still selling quickly. The median condo sold in 17 days in August, down from 47, at 99.5% of list price.

Financing and affordability

What the money cost in August, and what changed since

In August, rates weren’t the story. The 30-year fixed stayed in the mid-6s all month, only about a tenth of a point above a year earlier, so August’s Shelby Township numbers reflect supply and demand, not a rate shock.

September changed that. The 30-year fixed reached 7.28% on October 1. On a $465,000 home with 20% down, that’s about $154 a month more in principal and interest than at the end of August. Contracts signed from mid-September on are carrying that higher cost, which is why the next two reports matter.

Principal and interest only. Excludes property taxes, insurance, HOA dues and mortgage insurance. Illustrative only, not a rate quote or a commitment to lend. The 2026 conforming loan limit for Macomb County is $832,750.

The bigger picture

Shelby Township versus the nation

Nationally, existing-home sales fell to a seasonally adjusted annual rate of 3.98 million in August, down 1.2% from a year earlier, according to the National Association of REALTORS®. U.S. inventory reached a 4.9-month supply, the highest in more than ten years, and the national median rose 1.6% to $429,100. The Midwest median rose 3.3% to $340,400.

Shelby Township, at 3.4 months of residential supply, is tighter than the nation, and Macomb County as a whole sits at 2.8 months.

What it means

My honest take, depending on your side of the deal

Reading the numbers

Common questions about the Shelby Township market

Are Shelby Township home prices going up?

Yes, modestly. The residential median was $465,000 in August 2026, up 0.3% from a year ago, and the year-to-date median of $469,850 is up 4.4%. The year-to-date average sale price is up 3.1% to $506,601.

Is Shelby Township a buyer’s market or a seller’s market?

It’s still a seller’s market. Residential months of supply was 3.4 in August 2026, compared with 3.3 a year earlier; a balanced market is generally four to six months. Sellers received 99.4% of list price, and homes sold in a median of 30 days.

How does Shelby Township compare with the rest of Macomb County?

In August 2026, the Shelby Township residential median was $465,000, compared with $300,000 countywide. Homes sold in a median of 30 days, against 29 for the county, with 3.4 months of supply, against 2.8. Pending sales changed +36.5% from a year earlier, against +5.1% countywide.

Why did Shelby Township’s condo median drop 17% in August?

Mostly because of which condos sold. Only 19 condos closed in August 2026, so a few lower-priced sales can pull the median down. The year-to-date condo median is $274,950, up 1.1%, and condos sold in a median of 17 days at 99.5% of list price. Condo inventory did rise sharply, to 65 units, which is the trend to watch.

How much have mortgage rates changed, and what does it do to my payment?

The 30-year fixed averaged 6.66% on August 27, 2026, close to the 6.56% of a year earlier, then climbed to 7.28% by October 1. On a $465,000 home with 20% down, principal and interest is about $2,391 a month at 6.66% and about $2,545 at 7.28%, a difference of roughly $154.

Will my property taxes be the same as the seller’s?

Usually not. Michigan limits how much a home’s taxable value can rise while one owner holds it, then lets it reset after a sale. A buyer’s taxes are often noticeably higher than the seller’s, especially on homes owned for many years. Budget from an estimate based on your purchase price, not the seller’s current bill.

Does the Shelby Township median tell me what my home is worth?

No. The median blends very different homes, sizes, ages and conditions, and a change in the mix of what sold can move it without any single home changing value. Use these figures for direction, then get a comparative market analysis of your specific home to know what it’s worth.