Keep Up to Date with Michigan's Real Estate Market

Posted by Steph Kaye on Friday, December 21st, 2012 at 12:01pm.

Are you curious as to how the real estate market is looking lately? If you're looking to buy or sell a home soon, this information can be quite useful. Take a look at these stats found at RealComp. For more information, visit their site.

  • November MLS sales were up 7.2% (from 5,134 to 5,506)
  • 11.3% of all November sales were short sales
  • 43% of all November sales were cash sales
  • Median sale price for the month increased to $87,550 – up 25.1% over last year
  • Average Days On-Market decreased by 15 days over last year (89 to 74)
  • YTD sales were up by 8.9% compared to last year
  • On-market inventory declined 18.4% -- 29,209 (11/11) to 23,829 (11/12)
  • Approximately 12.5% of on-market inventory (2,972) was identified as foreclosures
  • Approximately 21% of on-market inventory (4,917) was identified as short sales

So, what does this mean for you? Contact Lang Premier Properties to have all of your questions answered.

Lang Premier Properties is home to a leading Oakland County Short Sale Realtor. Specializing in all aspects of real estate including short sales, foreclosures and working with home buyers and sellers with  Oakland County luxury homes. When you hire Lang Premier Properties, whether you are purchasing or selling Metro Detroit Real Estate, you can rest assured that you are in good hands.

1 Response to "Keep Up to Date with Michigan's Real Estate Market"

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