(NOTE: the Inventory scale on the chart above reads between 52.5 to 85.0)
The inventory has fallen dramatically since the start of the 4th quarter. Since January there have been only 6 sales with a Median sold price of $486,500 and an average sold price of $671,767. The sales ranged from a low of $240,000 to a high of $1,800,000, with an average days on market of 156 days. There are currently 81 homes listed with a median list price of $1,250,000 and a high price of $6,500.000. They have been on the market for an average of 283 days.
If you'd like to see homes in the Bloomfield Hills area, give me a call or if you live in Bloomfield Hills and want/need to sell your home call me for a market analysis of what your home might be worth on today's market.
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Norm Werner is a full-time, full-service Realtor working out of the Milford office of Real Estate One, Michigan’s largest and most successful real estate company. To learn more about Norm or the local real estate market in the Milford, Michigan area visit one of his Web sites listed below:
For buyers and sellers – http://www.themilfordteam.com/
For first-time buyers – http://www.mihomebuyer.com/
For people moving to Milford, Michigan – http://www.movetomilford.com/
For people in distress with their home –
href="http://www.mishortsales.net/">http://www.mishortsales.net/
For people interested in the history of Milford Michigan, visit http://www.milfordhistory.org/
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