August 2026 Sterling Heights Market Report

The month in brief

Fast sales, flat prices, more supply

Homes in Sterling Heights are still selling quickly. The median home sold in 17 days, down from 23, and sellers received 100.4% of list price, the same as a year ago.

Prices are flat for the year. The August median of $326,500 is down 6.4% from $349,000 in August 2025, but the year-to-date median of $327,500 is up 0.2%, and the year-to-date average is essentially unchanged.

Supply is building. Sellers listed 153 homes, up 14.2%, and inventory rose 28.9% to 205. Buyers kept up on contracts, with pending sales up 12.9% to 114, but closings fell 10.6% to 101.

Condos are softer. Condo pending sales fell 21.4% to 22, inventory rose 44.2% to 75, and sellers received 97.2% of list price, down from 98.7%.

The numbers, visually

Where Sterling Heights moved

August 2025 compared with August 2026, residential and condo.

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

Segment detail

Residential: fast sales, more supply

At 2.3 months of supply, Sterling Heights is one of the tightest markets in Macomb County, even after a 28.9% rise in inventory. Year to date, new listings are up 13.8% and pending sales are up 7.4%, so both sides of the market are growing.

Sellers received 100.4% of list price year to date. Well-priced homes here still draw full-price or better offers.

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: the softest segment

Sterling Heights condos sold for a median of $212,500 in August, down 5.6%, and the average fell 16.4% to $215,363. The year-to-date condo median of $228,950 is down 0.5%.

Condo buyers have more leverage than residential buyers. Inventory rose to 75 units, months of supply reached 2.9, and condo sellers received 97.2% of list price, down 1.5 points from a year ago.

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 Sterling Heights numbers reflect supply and demand, not a rate shock.

September changed that. The 30-year fixed reached 7.28% on October 1. On a $326,500 home with 20% down, that’s about $108 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

Sterling Heights 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.

Sterling Heights, at 2.3 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 Sterling Heights market

Are Sterling Heights home prices falling?

No, they’re flat. The August 2026 median of $326,500 was down 6.4% from a strong August 2025, but the year-to-date median of $327,500 is up 0.2%, and homes are still selling at 100.4% of list price in a median of 17 days.

Is Sterling Heights a buyer’s market or a seller’s market?

It’s still a seller’s market. Residential months of supply was 2.3 in August 2026, compared with 1.8 a year earlier; a balanced market is generally four to six months. Sellers received 100.4% of list price, and homes sold in a median of 17 days.

How does Sterling Heights compare with the rest of Macomb County?

In August 2026, the Sterling Heights residential median was $326,500, compared with $300,000 countywide. Homes sold in a median of 17 days, against 29 for the county, with 2.3 months of supply, against 2.8. Pending sales changed +12.9% from a year earlier, against +5.1% countywide.

Why do Sterling Heights homes sell so fast?

Demand is steady and prices sit near the middle of the county’s range. Sterling Heights had 114 pending sales in August 2026, more than any of the other townships I track, and only 2.3 months of supply. Homes sold in a median of 17 days, compared with 29 days countywide.

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 $326,500 home with 20% down, principal and interest is about $1,679 a month at 6.66% and about $1,787 at 7.28%, a difference of roughly $108.

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 Sterling Heights 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.