The real estate market during the month of August in Macomb County MI saw some suprises, as well as some areas that weren't surprising.

During the past month 700 single family residential homes sold in all of the cities and townships within Macomb County, which is a strong increase from the 600 homes that sold during August of last year.  




One other nice surprise was that the total average days on the market for the homes that sold decreased to 154, down from the 211 averge in August of 2007.

However the sales prices also showed what real estate professionals have been seeing consistently in the last few years:  Declining values.

The average sales price of the homes that sold in Macomb County MI this past month was $113,500, a very large decline from the $147,514 average of August 2007.

Part of this decline can surely be attributed to many more homes marked as "sold" in the Mirealsource™ database that were actually leased (rented) and not a typical sales transfer, and also those homes that are sold via foreclosure and short sale (pre-foreclosure)

In the coming days I will be highlighting some of the residential homes that have sold that were not foreclosures or short sales.  

Many private home owners are challenging the real estate market and not allowing the real estate market to challenge them.  They are pricing their homes competitively, preparing their homes for a successful sale, and hiring quality real estate professionals to help them market their homes effectively.

All data courtesy of Mirealsource™ and it's participating brokers and real estate agents.  The information is deemed to be reliable but not guaranteed.  If you would like specific information about the real estate market in your area of Macomb County MI please don't hesitate to contact me.  I would be happy to provide that for you in a non-pressured atmosphere.

Kris Wales - A Macomb County MI real estate agent