The following is a monthly market analysis for Royal Oak Michigan. It compares only residential homes sold in Feb. 2009 with Jan. 2009 to determine the # of homes sold for the month and the increase/decrease in average sold price. It also distinguishes how many homes were recorded to be Bank Owned/HUD. as opposed to private owned. First figures 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 Feb. 2008. To insure that most leases were not included in data, minimum sale price used was $10,000.
Market Analysis
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Feb. 09 median sale price decreased 12% from Jan. 09 & a 30% decrease # of homes sold. Bank owned homes median price decreased 23% in Feb. 09 from Jan. 09 |
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Feb. 09 median sale price decreased 30% from Feb. 08 & 32% decrease in # homes sold. Bank owned homes median price decreased 32% in Feb. 09 from Feb. 08 |
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Medium Sale price yr ending Feb. 2008 compared to yr ending Feb. 2009 decreased 15%; |
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Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. |
Active & Solds February 2009
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562 listings: |
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30 Sold listings: |
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Average List Price |
$165,678 |
Average Sold Price |
$106,210 |
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Median List Price |
$149,999 |
Median Sold Price |
$96,250 |
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Highest List Price |
$575,000 |
Highest Sold Price |
$265,000 |
|
Lowest List Price |
$24,900 |
Lowest Sold Price |
$27,000 |
|
Avg. DOM |
176 |
Avg. DOM |
94 |
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Bank Owned |
70 listings |
Bank Owned |
14 Sold |
|
Median List Price |
$85,773 |
Median Sold Price |
$64,950 |
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Avg. DOM |
100 |
Avg. DOM |
79 |
Active & Solds January 2009
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567 listings: |
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35 Sold listings: |
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Average List Price |
$166,182 |
Average Sold Price |
$120,165 |
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Median List Price |
$149,995 |
Median Sold Price |
$110,000 |
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Highest List Price |
$575,000 |
Highest Sold Price |
$427,500 |
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Lowest List Price |
$24,900.00 |
Lowest Sold Price |
$22,000 |
|
Avg. DOM |
176 |
Avg. DOM |
115 |
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Bank Owned |
76 listings |
Bank Owned |
20 Sold |
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Median List Price |
$89,900 |
Median Sold Price |
$85,000 |
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Avg. DOM |
97 |
Avg. DOM |
75 |
Active & Solds February 2008
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576 listings: |
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44 Sold listings: |
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Average List Price |
$167,529 |
Average Sold Price |
$145,907 |
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Median List Price |
$150,000 |
Median Sold Price |
$136,972 |
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Highest List Price |
$575,000 |
Highest Sold Price |
$349,000 |
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Lowest List Price |
$24,900 |
Lowest Sold Price |
$47,500 |
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Avg. DOM |
176 |
Avg. DOM |
131 |
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Bank Owned |
71 listings |
Bank Owned |
15 Sold |
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Median List Price |
$90,000 |
Median Sold Price |
$95,000 |
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Avg. DOM |
99 |
Avg. DOM |
79 |
Feb. 1, 2007 - Jan. 31, 2008
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1229 listings: |
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698 Sold listings: |
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Median List Price |
$169,900 |
Median Sold Price |
$170,750 |
Feb. 1, 2008 - Jan. 31, 2009
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1189 listings: |
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658 Sold listings: |
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Median List Price |
$150,000 |
Median Sold Price |
$145,000 |
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Year End Market Analysis for Oakland County 2008 compared to 2007
Oakland County Market Analysis for January 2009
Royal Oak 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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