Lake Orion Michigan- Sale Prices Up 4 Months In a Row!
Normally hearing that year to date median sale prices are down 3.4% wouldn't be good new. But when you consider Lake Orion Michigan/Orion Township Michigan prices have been plummeting since 2005, a slight decrease in prices truly is good news.
Even better news is the median sale price has been up over the previous year the last 4 months in a row. And the extraordinary news is the total sales volume is up from last year.
Median Sales Price Through August
2009: $152,000
2010: $146,850
Unit Sales Through August
2009: 227
2010: 270
Bank Owned Sales Through August
2009: 113
2010: 99
Short Sales Through August
2009: 20
2010: 54
Total Sales Volume Through August
2009: $38,935,780
2010: $41,645,700
Active Listings
9/28/2009: 235 with a median asking price of $209,900
9/18/2010: 159 with a median asking price of $174,900
Are we on a recovery in Lake Orion Michigan? It's hard to say right now; only time will tell if this is a trend. The reduction of both bank owned homes and the major reduction of inventory could certainly contribute to a stabilization of prices. The increase of both unit sales and total volume is also encouraging.
The best way to determine how a specific subdivision or neighborhood is doing is to contact me for a market analysis or for a more general idea of neigoborhood prices check out the neigoborhood pages linked below.
Individual Neighborhood Sales and Community Information
Lake Orion Michigan/Orion Township Michigan Sales Data
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