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Oakland County Michigan Market Analysis April 2009

 

The following is a monthly market analysis for Oakland County Michigan Real Estate.  It compares only residential homes sold in April 2009 with March 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 for Homes Sold also compares year ending April 2008 to April 2009.   Since Pontiac & Southfield have been hit hard with foreclosures, this market analysis calculates sold prices with and without these cities.  To insure most leases are not included in data, minimum sale price used was $15,000.

Market Analysis for Oakland County April 2009

April 09 median price for All Oakland County homes decreased 5% from March 09.  # of homes sold in April 09 increased 20% from March 09

Southfield & Pontiac are cities hit heavily with foreclosures that affect the overall median price of homes sold in Oakland County.  Taking out these cities in the analysis shows a 14% higher overall sold median price in April 09 and a 22% higher sold price in bank owned for April 09 separating Oakland County from Pontiac & Southfield.   For March 09:  8% higher overall median price and 12% higher bank owned median price

There is a 78% higher median price of private owned homes sold in all of Oakland County compared to private owned in just cities of Pontiac & Southfield

April 09 median sale price decreased 34% from April 08 & 13% increase in # homes sold.   As Pontiac & Southfield indicate, sold prices vary from city to city and must be calculated independently to get a true picture of current market trends.

Medium Sale price yr ending April 09 compared to yr ending April 08 decreased 24%

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

All Active & Sold April 2009

11629 listings:

 

1088 Sold listings:

 

Median List Price 

$184,900

Median Sold Price 

$105,000

Avg. DOM

186

Avg. DOM

117

Bank Owned

1809 listings

Bank Owned

649 Sold 

Median List Price 

$78,300

Median Sold Price 

$65,900

Avg. DOM

88

Avg. DOM

81

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

10618 listings:

 

959 Sold listings:

 

Median List Price 

$199,900

Median Sold Price 

$122,500

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

9119 listings:

 

422 Sold listings:

 

Median List Price 

$220,000

Median Sold Price 

$165,920

All Private Owned Actives & Sold April 09 in Pontiac & Southfield

1025 listings:

 

130 Sold listings:

 

Median List Price 

$69,900

Median Sold Price 

$36,375

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

1499 listings:

 

537  Sold listings:

 

Median List Price 

$89,900

Median Sold Price 

$84,500

All Active & Sold March 2009

11568  listings:

 

872 Sold listings:

 

Median List Price 

$184,900

Median Sold Price 

$110,000

Bank Owned

1953 listings

Bank Owned

520 Sold 

Median List Price 

$80,500

Median Sold Price 

$70,000

Actives & Sold March 09 w/o Pontiac & Southfield

10518  listings:

 

769 Sold listings:

 

Median List Price 

$199,900

Median Sold Price 

$120,000

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 Actives & Sold April 08 

11482 listings:

 

942 Sold listings:

 

Median List Price 

$189,900

Median Sold Price 

$160,000

May 1, 2007 – April 30, 2008 – All Homes

20543 listings:

 

10004 Sold listings:

Median List Price 

$189,900

Median Sold Price 

$180,000

May 1, 2008 – April 30, 2009 – All Homes

22182 listings:

 

11644 Sold listings:

Median List Price 

$164,900

Median Sold Price 

$136,000

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Oakland County Market Analysis for March 2009

Oakland County Market Analysis for February 2009

Oakland County Market Analysis for January 2009

Oakland 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.

 

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