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January Market Update - Macomb County

By
Real Estate Broker/Owner with CENTURY 21 Sunrise

There seems to be a little life left in the Macomb County real estate market.  No doubt the unseasonably warm weather the first few week helped.  Let's see what the numbers show in Macomb County during the month of January, 2007.  There were 6389 homes for sale as of the 31st of January, a 4% increase of 246 listings.  There were 469 happy sellers who had their homes sell during January, an healthy increase of 48 sales or 11.4%.  There have been an average of 509.33 sales/month over the past 6 months.

6389  Homes for sale
469    Homes sold in December
509    Homes sold per month (6 month average)

From now on I have decided to use the actual monthly sales figures instead of the 6-month rolling average.  The sample in Macomb County is large enough to use the actual sales figures.  I will restate the last few month, for comparison.

 November - 17.0 Months of Supply

December - 14.6 Months of Supply

January - 13.62 Months of Supply

A increase in supply in January is to be expected.  You normally get back some listings that pulled out of the market for the holidays.   A few more new sellers will try to get a jump on the spring market.  The January sales increase (11.4%) has continued the upward trend started in December.  The net result is another shift toward the seller's market of 6.7%.

Still a solid buyer's market, but Macomb County is showing signs of a correction.  Combine this with the ever rising interest rates and I believe the prime purchasing opportunity is here. 

As my Dad always said, "In real estate spring starts January 1st."

 

Crossposted on my other blog at  http//RickMarcum.com

Robin Cutler and Kay Pearson, Clarkston, Michigan Real Estate
Real Estate One - Clarkston, MI

Rick,

I am a new member and live and sell real estate in Clarkston and handle all of North Oakland County.  I am very impressed with your stat page regarding the Macomb market.  I look forward to getting up to speed and will learn from a pro like yourself.

Feb 03, 2007 12:19 PM
Richard Marcum
CENTURY 21 Sunrise - Almont, MI
Thank you Robin/Kay for your kind words.  I have a sister/brother-in-law who lives in Clarkston.  It is a beautiful area.  How are your sales doing out there?  I hope there starting to pick up a little bit.
Feb 06, 2007 06:50 AM