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Oakland County Residential Home Sales Increase Slightly

Preliminary numbers for residential homes sold in Oakland County Michigan indicate a slight increase in sales during 2007. According to my search of all residential homes sold by Realtors® (based upon all homes listed and sold by all real estate companies and recorded on Realcomp II Ltd as of January 8, 2008)

During 2007 there were 10328 homes sold as compared to 9991 homes sold during 2006. Median sale prices decreased almost 10 percent in relation to 2006. Most value decreases were caused by the glut of foreclosure homes on the market.

Complete information from all Multiple Listing Services, for the first 10 months of 2007, is available at http://mirealtors.com/ by searching under Housing Statistics on the left side or top menu of the page.

Totals above do not include private sales of residential homes. Information that is more complete will be available from Oakland County Public Records shortly.

Looking for specific information on your home? An online Home Evaluation will provide information on similar sales in your information. Local information provides the best indicator of value, or value decrease in this market.

Searching for homes in southeastern Michigan? Basic and Advanced Search of homes on the Internet Data Exchange (IDX) Look for the logo to search the Multiple Listing Service.

Posted by Gary Smith on 01/08/2008 07:59 PM

Comments (5)

oakland county michigan, 2007 home sales, home evaluation, search for homes

This post has been included in Michigan Information Oakland County, MI Information

5 Comments on Oakland County Residential Home Sales Increase Slightly

JAN

2008

Wow Gary, that is good news! I believe the media was expecting to be able to report LESS home sales, not more. Great job compiling this!

this is a good sign,,, people are buying,,,, its just a matter of what they are looking for,,,

Kris, Yes, you could have knocked me down with a feather. Serious home sellers are still selling. Those that gambled with their homes in 2005 and 2006 lost their bets and are either not selling or taking a bath in losses.

Rick, You're correct. I haven't had a chance to break this down yet, but I believe those people that purchased in the extreme sellers markets and purchased bi-level homes, busy streets, and others are not selling now unless they are deeply discounted. This is where a good Buyers Agent is an asset.

JAN

2008

that is such a true statement,,, i am in complete agreement,,, i would rather not list a home that someone is asking too much for,,, you know that you wont get any showings and in the end all you will have is a headache from listening to sellers complain,,,

Rick, now if everyone else would just join in.

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