Farmington Hills foreclosure trend

Farmington Hills Real Estate Update

Here is a quick Farmington Hills sold homes update for one of my buyers to see what is going on recently.  Here are all the colonial homes that have sold in the 2200 -2950 square foot range in the last 30 days.  Look at the sold price versus the list price.  There were five that sold for over list price and two more that sold very close.  But on the other end there were some that sold for 10% less.   The average days on the market for these homes were 91 days.

Now here is by the area between Haggerty Rd to Farmington Rd from 12 to 14 Mile Rd  Again Colonial homes but no square footage restrictions.  You will note that there were some big colonials that sold cheap.  They were probably Farmington Hills foreclosures that needed a lot of work. 

This is just a general guide of Farmington Hills foreclosures sold trends.   To really understand it you might have to look at the individual house listings that sold to see whether they were foreclosures and what was the shape of the home.

Usually Farmington homes that are in good shape sell for more money per square foot and quicker. A dumpy Farmington Hills foreclosure or poorly maintained home will sit on the market and will sell for much less.

Russ Ravary Metro Detroit real estate agent

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Comp and listing info courtesy of Real Comp II.  Homes shown above have been sold by various Realtors.