Michigan Home Sales Continue Their Rise in Region Sales Up for Entire MLS for 5th Consecutive Month
Highlights Synopsis of Sales (5-08 vs. 5-07)
Area May, 2008 May, 2007 Percent Change
City of Detroit 1,039 771 Up 34.8%
Livingston 169 153 Up 10.5%
Macomb 703 636 Up 10.5%
Oakland 1,241 1,135 Up 9.3%
St. Clair Area 115 129 Down 10.9%
Wayne 2,072 1,766 Up 17.3%
ALL MLS 5,288 4,691 Up 12.7%
• Entire MLS up for fifth straight month, YTD 12.7 % up over same time 2007
• Wayne County and the City of Detroit sales are up for the fifth straight month
• Macomb and Oakland Counties up 4 out of last 5 months
Analysis:
• Sales up during May in Livingston, Macomb, Oakland, & Wayne counties having positive effect on overall sales totals.
• Pending Sales (offers accepted, not yet closed) up in May in entire MLS.
Key Factors/Indicators:
• Positive:
- Homes priced to sell
- Interest rates remain at historically low levels
• Adverse:
-Michigan still 5th in nation in foreclosures keeping prices of homes lower than appraisals in many cases
Source: Realcomp
I was born in Detroit, and raised in the little town of Fraser Michigan.
I now enjoy the sunlight the goolf and the rainless skies in Tucson Arizona.
I have enjoyed real estate when the market was great and went on vacations when themarket went down.
I have a Arizona Brokers Real Estate License and have been in sales for over 12 years.
If you have any of your clients driving you nutts to get out of the Detroit Metro Area, I give 35% referrals on closed sales of over $500,000.
I love it here and I can make sure that your clients enjoy it here as much as I do. My commitment to their comfort surpasses all others.
Vicki Altadonna
Southern Arizona Group PLLC
Real Estate Marketing Professionals of Tucson
(520) 275-3720
Vicki@SouthernArizonaGroup.com
www.remarketingpros.com
Happy 4th of July.
Great news! I think this shows that things are getting better around here. Of course the house sales are lower but we are getting sales and that's what's going to spur the market or at least level it off.
Successfully Your,
Jared
Detroit Investment Properties - Our website for wholesale deals and information
Detroit Real Estate - Our Blog on Detroit Real Estate
Detroit Investment Properties - Secrets for Successful Investing
The details about michigan home sales in 2008 is a nice information. it is will be very useful for the land brokers. All the people can easily understand the land rates. thank you
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danica
<a href="http://www.treatmentcenters.org/michiga">Michigan Treatment Centers</a>
Well... it looks like your area may actually be picking up... its about time!
Ralph Nudi
Broker/Owner - Weichert, Realtors - Unum Properties
Kenosha, WI
I think many of the house sales in Detroit are foreclosures but I do know of quite a few houses still selling at reasonable prices. There is a flood of out of state investment coming into Detroit, which I'm sure is part of the upsurge.
Jared
Detroit Investment Properties - Our website for wholesale deals and information
Detroit Real Estate - Our Blog on Detroit Real Estate
Detroit Investment Secrets - Secrets for Successful Investing