Market Updates
Residential Real Estate Statistics for Selected
Cities in Oakland County Michigan
August 2009 Compared to August 2008
Information Source: August 2009 Metropolitan REALTOR®
|
OAKLAND COUNTY
|
SALES
|
MEDIAN SALE PRICE
|
|
BERKLEY
|
-47.0%
|
-17.0%
|
|
BEVERLY HILLS
|
+21.0%
|
-17.0%
|
|
BIRMINGHAM
|
+26.0%
|
-38.0%
|
|
BLOOMFIELD HILLS
|
-17.0%
|
+50.0%
|
|
BLOOMFIELD TWP.
|
-22.0%
|
+37.0%
|
|
FERNDALE
|
+72.0%
|
-43.0%
|
|
ROYAL OAK
|
+14.0%
|
- 4.0%
|
|
SOUTHFIELD
|
+41.0%
|
-40.0%
|
|
TROY
|
+ 8.0%
|
-18.0%
|
Summary:
With some exceptions, the trend of increased sales volume, decreased median sale prices and listing decreases continue. At some point, this once in a lifetime opportunity for buyers will end. Interest rates remain low and homes that were previously unaffordable are now affordable. Add to that, the $8,000 First-Time home buyer tax credit that expires on November 30, 2009, and you have the best time to buy in the last 50 years.
Don't miss out! If you are considering buying, you can view the homes that I have listed or search the Multiple Listing Service, yourself, 24/7 on my website.
If you already own a home and have seen its value decline, call me for a free consultation at (248) 514-2640 regarding lowering your property taxes.
Learn how these Statistics Affect YOU!
BUYERS:
- It's still a Buyer's Market
- Now is the Time to Buy
- Interest rates are low
- The Federal Reserve has lowered interest rates
- There are lots of homes to select from
- Sellers are more motivated to sell, which could mean more concessions for you
SELLERS:
- It's possible your home may be on the market longer
- Homes that are Priced Right will sell faster
- I'll help you net the Most Money from the sale of your home
- You need aggressive marketing to get the exposure for your home
- Utilize my 30-Day Marketing Plan...about 85% of the homes listed by me are sold through my 30-Day Marketing Plan
ACT NOW:
It's particularly important for you to hire the best REALTOR® to handle your Southeast Michigan real estate transaction. I'm not your typical REALTOR®...I'm unique. Besides being a REALTOR®, I'm also a real estate lawyer with over 20 years experience. Whether you're buying or selling, I'm highly qualified to guide you through any real estate transaction. Fill out the form below for more information about how these statistics personally affect you. I'm always happy to answer any questions.
Are you ready to buy or sell Southeast Michigan real estate in Oakland County? If you want to talk or need more information, give me a call at (248) 514-2640 or contact me now!
Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call: (248) 514-2640
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