The following is an end of the year market analysis for Rochester Hills Michigan. It compares only 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. To insure that most leases were not included in data, minimum sale price used was $15,000.
|
57 Bank Owned Homes sold in 2007
|
|
Average List Price
|
$220,239.00
|
Average Sold Price
|
$208,898.00
|
|
Highest List Price
|
$729,000.00
|
Highest Sold Price
|
$650,000.00
|
|
Lowest List Price
|
$84,000.00
|
Lowest Sold Price
|
$84,000.00
|
|
Avg. Days On Market
|
95
|
Avg. Days On Market
|
97
|
|
119 Bank Owned Homes Sold in 2008
|
|
Average List Price
|
$155,914.00
|
Average Sold Price
|
$147,808.00
|
|
Highest List Price
|
$493,500.00
|
Highest Sold Price
|
$493,000.00
|
|
Lowest List Price
|
$20,000.00
|
Lowest Sold Price
|
$18,300.00
|
|
Avg. Days On Market
|
75
|
Avg. Days On Market
|
76
|
|
Average List Price
|
$289,807.00
|
Average Sold Price
|
$275,107.00
|
|
Highest List Price
|
$1,495,000.00
|
Highest Sold Price
|
$1,225,000.00
|
|
Lowest List Price
|
$60,000.00
|
Lowest Sold Price
|
$50,000.00
|
|
Avg. Days On Market
|
137
|
Avg. Days On Market
|
138
|
|
497 Homes sold in 2008
|
Average List Price
|
$245,722.00
|
Average Sold Price
|
$229,859.00
|
|
Highest List Price
|
$1,490,000.00
|
Highest Sold Price
|
$1,300,000.00
|
|
Lowest List Price
|
$20,000.00
|
Lowest Sold Price
|
$18,300.00
|
|
Avg. Days On Market
|
130
|
Avg. Days On Market
|
131
|
|
In 2008, Rochester Hills had a 7% increase in homes sold
|
|
In 2008, Rochester Hills had an 18% decrease in average sold price
|
|
In 2008, Rochester Hills had a 55% increase in Bank Owned homes sold
|
|
In 2008, Rochester Hills had a 11% decrease in average Bank Owned sold price
|
|
In 2007, 3 homes sold at $915,001--$1,225,000 & Avg. DOM was 212
|
|
In 2008, 1 home sold over $915,001 at $1,300,000 & Avg. DOM was 1024
|
|
Statistics rounded to nearest % & compiled from RealComp II data believed to be reliable.
|
|
If you are looking to Purchase a Home, click here for an IDX Home Search
If you are looking to Sell a Home, click here for an outline of our Marketing Strategy.
Property Taxes in a Declining Market, click here to learn more.
Market Analysis for Oakland County Michigan.
Market Analysis for Birmingham Michigan
Market Analysis for Royal Oak Michigan.
Rochester Hills 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.
;)
;)
