The following is a monthly market analysis for Ferndale 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 or 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. Ferndale Market Analysis also compares First Quarter 2009 to 2008 and year ending March 2008 to March. 2009. To exclude leases in data, minimum sale price used was $5,000.
Market Analysis
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March. 09 median sale prices increased 13% from Feb. 09 & a 22% increase in # of homes sold. Private owned median price decreased 15% March 09 from Feb. 09 & #of homes sold stayed about the same. Bank owned homes median price increased nominally in March. 09 from Feb. 09. |
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Mar. 09 median sale price decreased 56% from Mar. 08 & # homes sold doubled in Mar.09 |
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First Quarter 09 median sale price decreased 63% from First Quarter 2008 |
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Year ending Mar. 2009 median sale price compared to yr ending Mar. 08 decreased 45%; |
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Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. |
Active & Sold March 2009
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330 listings: |
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40 Sold listings: |
|
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Average List Price |
$90,985 |
Average Sold Price |
$44,643 |
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Median List Price |
$79,900 |
Median Sold Price |
$34,000 |
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Highest List Price |
$279,900 |
Highest Sold Price |
$180,500 |
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Lowest List Price |
$9,000 |
Lowest Sold Price |
$5,000 |
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Avg. Days On Market |
161 |
Avg. Days On Market |
110 |
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Private Owned |
256 listings |
Private Owned |
10 Sold |
|
Median List Price |
$99,900 |
Median Sold Price |
$65,250 |
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Bank Owned |
74 listings |
Bank Owned |
30 Sold |
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Median List Price |
$29,900 |
Median Sold Price |
$25,000 |
Active & Sold February 2009
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321 listings: |
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31 Sold listings: |
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Median List Price |
$85,000 |
Median Sold Price |
$29,500 |
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Private Owned |
255 listings |
Private Owned |
9 Sold |
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Median List Price |
$99,900 |
Median Sold Price |
$77,000 |
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Bank Owned |
66 listings |
Bank Owned |
22 Sold |
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Median List Price |
$29,900 |
Median Sold Price |
$24,170 |
Active & Sold March 2008
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310 listings: |
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20 Sold listings: |
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Median List Price |
$89,900 |
Median Sold Price |
$76,550 |
First Quarter ending March 31, 2009
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385 listings: |
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95 Sold listings: |
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Median List Price |
$75,000 |
Median Sold Price |
$29,500 |
First Quarter ending March 31, 2008
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346 listings: |
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56 Sold listings: |
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Median List Price |
$89,900 |
Median Sold Price |
$79,949 |
April 1, 2007 - March 31, 2008
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593 listings: |
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303 Sold listings: |
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Median List Price |
$99,500 |
Median Sold Price |
$103,000 |
April 1, 2008 - March 31, 2009
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700 listings: |
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410 Sold listings: |
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Median List Price |
$72,500 |
Median Sold Price |
$57,000 |
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Market Analysis for Ferndale February 2009
Oakland County Market Analysis for March 2009
Oakland County Market Analysis for February 2009
Ferndale 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.
Cathy I hope your market shows improvement this Spring. We are off to a real good start here in Mass.