The following is an end of the year market analysis for Oakland County Michigan. It compares residential homes sold in 2007 with 2008 to determine the # of homes sold for the year and the increase/decrease in average sold price. It also distinguishes how many homes were recorded to be Bank Owned as opposed to private owned. Total number of Homes Sold include private, bank owned and short sales. In the latter part of 2008, Realtors were required to categorize ownership status so figures may not truly reflect the actual number of bank owned for 2007 and part of 2008. This data includes many communities hit hard with foreclosures like Southfield and Oak Park as well as very high priced homes in the millions such as Bloomfield Hills. To insure that leases were not included, the search started at $25,000 minimum price.
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1717 Bank Owned Homes sold in 2007 |
|
Average List Price |
$156,920.00 |
Average Sold Price |
$147,522.00 |
|
Median List Price |
$132,900.00 |
Median Sold Price |
$125,000.00 |
|
Highest List Price |
$1,099,000.00 |
Highest Sold Price |
$1,057,500.00 |
|
Lowest List Price |
$23,900.00 |
Lowest Sold Price |
$25,000.00 |
|
Avg. Days On Market |
90 |
Avg. Days On Market |
91 |
|
3783 Bank Owned Homes Sold in 2008 |
|
Average List Price |
$137,826.00 |
Average Sold Price |
$130,775.00 |
|
Median List Price |
$109,900.00 |
Median Sold Price |
$104,000.00 |
|
Highest List Price |
$1,299,900.00 |
Highest Sold Price |
$1,169,000.00 |
|
Lowest List Price |
$13,750.00 |
Lowest Sold Price |
$25,000.00 |
|
Avg. Days On Market |
86 |
Avg. Days On Market |
88 |
|
9757 Homes sold in 2007 |
|
Average List Price |
$244,973.00 |
Average Sold Price |
$231,242.00 |
|
Highest List Price |
$4,250,000.00 |
Highest Sold Price |
$3,650,000.00 |
|
Lowest List Price |
$3,000.00 |
Lowest Sold Price |
$25,000.00 |
|
Avg. Days On Market |
132 |
Avg. Days On Market |
133 |
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10489 Homes sold in 2008
Average List Price $203,463.00 Average Sold Price $190,106.00 Highest List Price $14,500,000.00 Highest Sold Price $9,800,000.00 Lowest List Price $1.00 Lowest Sold Price $25,000.00 Avg. Days On Market 127 Avg. Days On Market 128
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Oakland County Michigan Realtor selling Real Estate in Southeastern Michigan. TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service. Follow me on Twitter.
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