Oxford MI Real Estate- Oxford Home Sales Are Up
Oxford MI home sales are up 6%. The average sales price in Oxford is up 6% and the median home sales price is also up 14%. There has been $3,775,250 more in residential real estate sales so far in 2012 versus the same time frame in 2011 (the first 3 quarters). Listing inventory (Oxford homes for sale) is very low.
On Oct. 24, 2012 there were only 90 homes for sale in Oxford MI. With an average of 22 sales per month that is less than a 5 month supply of active listings.
Distressed home sales (short sales and foreclosures) are down in Oxford with distressed sales making up 42% of the total sales. In 2011 distressed sales made up 59% of the total home sales in Oxford, MI.
Total Sales Oxford MI (units):
2012: 195
2011: 183
Distressed Sales (units) Oxford MI:
2012: 82
2011: 108
Average Sales Price Oxford MI:
2012: $170,750
2011: $161,317
Median Sales Price Oxford MI:
2012: $169,000
2011: $145,040
Sales Volume Oxford MI Home Sales:
2012: $33,296,330
2011: $29,521,080
The decline in distressed home sales contributes to the increase in overall home prices. And this is a catch 22 in a good way- the more Oxford home prices go up the less under water houses there are so less distressed home sales. As Martha Stewart would say: This is a good thing for the Oxford MI home owner. Or potential Oxford MI home buyer.
What to Expect From a Buyer's Agent
Financing and the Importance of a Pre-Approval
Jackie Hawley, Realtor
ReMax Encore, Clarkston MI
Cell: (248)736-6407
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