Metamora and surrounding areas, monthly real estate summary, August 2013.
Analysis:
All MLS sales were up by 4.6%
The median sale price for all MLS sales increased to $125,000 - up by 38.9%
Average days on market for the entire MLS decreased by 18 days
Of the 6,763 sales closed, 6.3% were short sales and 35.8% were cash sales
On market inventory declined by 22.2%
Listings received for the month were up by 11.9%
Approximately 6.4% of all inventory are short sales and 13.0% are foreclosures
Metamora:
48455) New listings down 29.2%, median sale price is $214,500 - up 35% from last year at this time.
Lapeer:
48446) New listings down 7.3%, median sale price is $143,000 - up 46%
Lake Orion:
48359) New listings up 47.1%, median sale price is $155,000 - down 20%
48360) New listings up 9.5%, median sale price is $235,000 - up 4%
48362) New listings up 20.0%, median sale price is $162,562 - up 44%
Oxford:
48370) Median sale price is $280,000 - up 9%, new listings up 37.5%
48371) Median sale price is $187,500 - up 20%, new listings up 56.8%
Lapeer County:
Listing inventory is 542 properties, down 6.6% from last year at this time
Number of total sales is 106, down 7.8%
Average days on market is 72 days
Oakland County:
Listing inventory is 4978 properties, down 22.3%
Number of total sales is 1927, up 10.7%
Average days on market is 53 days
Mortgage Update:
As of 08/30/2013, bankrate.com shows the 30 year fixed rate at 3.9%, 15 year fixed at 2.7% and 3 year a.r.m. at 3.0%
For detailed information on selling your home, buying a home or obtaining a home mortgage, contact us at 810-338-0628 or donaldhorne.realtor@gmail.com TODAY!
Donald Horne, Team Success Listing
Associate Broker for Coldwell Banker Shooltz Realty
Read Donald's Blog Here
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