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December Market Update - Macomb County

By
Real Estate Broker/Owner with CENTURY 21 Sunrise

Let's look at the state of real estate in Macomb County through the end of December 2006.  There were 6143 homes for sale as of the 31st of December, a 8% reduction of 533 listings.  There were 421 happy sellers who had their homes sell during the month, an increase of 28 sales or 7%.  There have been an average of 572 sales/month over the past 6 months.

 

6143  Homes for sale
421    Homes sold in December
542    Homes sold per month (6 month average)

= 11.3 Months of Supply, a strong buyer's market.

A slight tightening of supply is typical of December, as many sellers take their homes off the market for the holidays.  What is significant here is that sales actually increased in December.  This combined with an 8% reduction in inventory are signs that this buyer's market may be beginning to break.  If we used the actual monthly sales figures instead of the 6-month rolling average, the picture becomes a little clearer.  Doing the math, we would see that November was 17.0 MOS and December was 14.6.  This is a 14% shift toward a seller's market. 

Still a long ways to go, but it looks like it's beginning to head in the right direction.  We will see what January brings.

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