Birmingham Michigan and Metro Detroit Real Estate

head_left_image

Oakland County Market Analysis March 2009 & First Quarter 2009

The following is a monthly market analysis for Oakland County Michigan.  It compares only residential homes sold in March. 2009 with Feb. 2009 to determine the # of homes sold for the month and the increase/decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.   Oakland County Market Analysis also compares first quarter sales and year ending March. 2008 to March 2009.  To insure most leases are not included in data, minimum sale price used was $15,000.

Market Analysis for Oakland County March 2009

March 09 median price for All Oakland County homes increased 5% from Feb. 09.  # of homes sold in March 09 increased 21% from Feb. 09

Southfield & Pontiac are cities hit heavily with foreclosures which affect the overall median price of homes sold in Oakland County.  Taking out these cities in the analysis shows an 8% higher overall sold median price in Mar. 09 and a 12.5% higher sold price in bank owned for Mar. 09.   For Feb. 09:  14% higher overall and 15% higher bank owned

Mar. 09 median sale price decreased 29% from Mar. 08 & 15% increase in # homes sold.   As Pontiac & Southfield indicate, each city must be calculated independently to get a true picture of current market trends.

First Quarter 2009 median price of All Homes sold decreased 31% from first quarter 2008 and # of homes sold increased 10%

Medium Sale price yr ending Mar. 2009 compared to yr ending Mar. 08 decreased 22.5%;

Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.

Active & Sold March 2009

11568 listings:

 

872 Sold listings:

 

Average List Price

$295,260

Average Sold Price

$140,238

Median List Price

$184,900

Median Sold Price

$110,000

Highest List Price

$11,500,000

Highest Sold Price

$1,210,000

Lowest List Price

$10,000.00

Lowest Sold Price

$15,000

Avg. DOM

191

Avg. DOM

122

Bank Owned

1953 listings

Bank Owned

520 Sold

Median List Price

$80,500

Median Sold Price

$70,000

Avg. DOM

91

Avg. DOM

87

All Actives & Sold March 09 w/o Pontiac & Southfield

10518 listings:

 

769 Sold listings:

 

Median List Price

$199,900

Median Sold Price

$120,000

All Private Owned Actives & Sold March 09 w/o Pontiac & Southfield

8870 listings:

 

332 Sold listings:

 

Median List Price

$224,900

Median Sold Price

$179,450

Bank Owned Actives & Sold March 09 w/o Pontiac & Southfield

1648 listings:

 

437  Sold listings:

 

Median List Price

$90,450

Median Sold Price

$80,000

All Active & Sold February 2009

11349  listings:

 

692 Sold listings:

 

Median List Price

$184,999

Median Sold Price

$105,000

Bank Owned

1877 listings

Bank Owned

447 Sold

Median List Price

$81,900

Median Sold Price

$69,900

Actives & Sold Feb. 09 w/o Pontiac & Southfield

10352 listings:

 

604 Sold listings:

 

Median List Price

$199,900

Median Sold Price

$122,000

Private Owned Actives & Sold Feb. 09 w/o Pontiac & Southfield

8767 listings:

 

229 Sold listings:

 

Median List Price

$225,000

Median Sold Price

$180,000

Bank Owned Actives & Sold Feb. 09 w/o Pontiac & Southfield

1586 listings:

 

375 Sold listings:

 

Median List Price

$94,550

Median Sold Price

$82,500

All Actives & Sold March 08

11398 listings:

 

741 Sold listings:

 

Median List Price

$189,150

Median Sold Price

$155,000

First Quarter ending March 31, 2009 - All Homes

12848 listings:

 

2191 Sold listings:

 

Median List Price

$175,000

Median Sold Price

$107,000

First Quarter ending March 31, 2008 - All Homes

12627 listings:

 

1970 Sold listings:

 

Median List Price

$185,000

Median Sold Price

$156,000

April 1, 2007 - Feb. 29, 2008 - All Homes

20503 listings:

 

9846 Sold listings:

 

Median List Price

$189,900

Median Sold Price

$182,000

April 1, 2008 - March 31, 2009 - All Homes

21976 listings:

 

11319 Sold listings:

 

Median List Price

$165,000

Median Sold Price

$141,000

If you are looking to Purchase a Home, click here for an IDX Home Search

If you are looking to Sell a Home, click here for an outline of our Marketing Strategy

Oakland County Market Analysis for February 2009

Oakland County Market Analysis for January 2009

Year End Market Analysis for Oakland County 2008 compared to 2007

retweet to twitterOakland County 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.

Comments

Participate



(optional)
What does the graphic say?