The Village of Metamora, Lapeer County, Michigan 48455
Real Estate Market Today 10/13/2010
Welcome to the Village of Metamora, an indian name meaning among the hills. Also, the name of an Indian hero, son of Massosoit, a play popular in the east in the 1840s.
A station on the Detroit & Bay City Railroad in 1885, it was first settled by Eber Barrows who built an inn here in 1843.
Metamora is located south of the city of Lapeer, just east of M-24. Population 507 with 188 households (2000). Residents of the village attend Lapeer Community Schools.
Metamora real estate market today:
* The median single family home price as of 10/10/2010 is $268,219
* With a market action index at 13.03, Metamora is currently a buyer's market
* The average property has been on the market for about 284 days (see chart)
* The median price per square foot for homes is about $119
* There are about 114 properties on the market as of 10/10/2010
Simply put, "Days-on-Market" tells you how long the active properties currently for sale, in aggregate, have been on the market (a.k.a. "time on market"). Said otherwise- "of the active listings currently available for sale - how long have they been for sale?"
Compare this to "Time to sale" which is used to describe only those selected properties that sold and is a statistically different measurement. "Time to sale" only looks at those properties that sold vs "time on market" which looks at all active listings as defined above.
Most importantly, while the values of the Altos Research "days on market" and the "time to sale" may not match, you'll find that these numbers are closely correlated. Both values will rise in weaker markets and fall in stronger markets.
If living in a small town appeals to you, let's talk about how to make that dream a reality in the Village of Metamora.
To find out the value of your home or property, questions about real estate or mortgages, contact me direct at 800-628-7356 x 8065 or dhorne@cbshooltz.net TODAY!
references: altosresearch.com, infomi.com, donald horne
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