O.K., are you ready for some good news for real estate in the Canton, Plymouth, Northville, and the Livonia area? October 2011 sales data from the local Multi-List Service was just released and there is good news. The market continues to strengthen. The long painful decline has taken a break for most markets in the Metro Detroit area. However, even though most of the news was good, the data also showed that Short Sales continue to rise. Realcomp, the local MLS reported this week that:
- Residential and Condominium sales across Realcomp's MLS areas were up 6.1% from 4,902 in October 2010 to 5,199 in October 2011.
- All MLS median sale price rose 8.2% from $67,000 in October 2010, to $72,500 in October 2011.
- Of 5,199 sales closed in October of this year, 14.23% (740) were identified as short sales.