The following is a monthly market analysis for Oakland County Michigan Real Estate. It compares only residential homes sold in May 2009 with April 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 May 2008 to May 2009. Since Pontiac & Southfield have been hit hard with foreclosures, this market analysis calculates sold prices with and without these cities. This verifies importance of not using generalities when determining market trends-individual cities vary according to # of foreclosures, schools and property taxes. To insure most leases are not included in data, minimum sale price used was $10,000.
Market Analysis for Oakland County May 2009
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May 09 median price for All Oakland County homes remained the same from April 09. # Of homes sold in May 09 decreased 6% from April 09 |
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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 very slight decrease in overall sold median price in May 09 and a 12% decrease sold price in bank owned for May 09 |
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There is a 72% higher median price of private owned homes sold in all of Oakland County compared to private owned in just cities of Pontiac & Southfield |
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May 09 median sale price decreased 32% from May 08 & 3% 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. |
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Medium Sale price yr ending May 09 compared to yr ending May 08 decreased 26% |
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Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. |
All Active & Sold May 2009
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11611 listings: |
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1027 Sold listings: |
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Median List Price |
$189,000 |
Median Sold Price |
$105,000 |
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Avg. DOM |
184 |
Avg. DOM |
113 |
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Private Owned |
9983 listings |
Private Owned |
469 Sold |
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Median List Price |
204,900 |
Median Sold Price |
162,740 |
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Avg. DOM |
201 |
Avg. DOM |
155 |
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Bank Owned |
1628 listings |
Bank Owned |
558 Sold |
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Median List Price |
$75,800 |
Median Sold Price |
$62,050 |
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Avg. DOM |
86 |
Avg. DOM |
78 |
All Actives & Sold May 09 w/o Pontiac & Southfield
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10611 listings: |
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906 Sold listings: |
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Median List Price |
$199,900 |
Median Sold Price |
$122,000 |
All Private Owned Actives & Sold May 09 w/o Pontiac & Southfield
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9257 listings: |
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448 Sold listings: |
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Median List Price |
$220,000 |
Median Sold Price |
$170,000 |
All Private Owned Actives & Sold May 09 in Pontiac & Southfield
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726 listings: |
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21 Sold listings: |
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Median List Price |
$79,900 |
Median Sold Price |
$47,000 |
Bank Owned Actives & Sold May 09 w/o Pontiac & Southfield
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1354 listings: |
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458 Sold listings: |
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Median List Price |
$89,900 |
Median Sold Price |
$74,000 |
All Active & Sold April 2009
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11629 listings: |
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1088 Sold listings: |
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Median List Price |
$184,900 |
Median Sold Price |
$105,000 |
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Bank Owned |
1809 listings |
Bank Owned |
649 Sold |
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Median List Price |
$78,300 |
Median Sold Price |
$65,900 |
Actives & Sold April 09 w/o Pontiac & Southfield
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10618 listings: |
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959 Sold listings: |
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Median List Price |
$199,900 |
Median Sold Price |
$122,500 |
Private Owned Actives & Sold April 09 w/o Pontiac & Southfield
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9119 listings: |
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422 Sold listings: |
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Median List Price |
$220,000 |
Median Sold Price |
$165,920 |
Bank Owned Actives & Sold April 09 w/o Pontiac & Southfield
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1499 listings: |
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537 Sold listings: |
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Median List Price |
$89,900 |
Median Sold Price |
$84,500 |
All Actives & Sold May 08
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11584 listings: |
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1000 Sold listings: |
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Median List Price |
$189,900 |
Median Sold Price |
$155,000 |
June 1, 2007 – May 31, 2008 – All Homes
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20777 listings: |
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10193 Sold listings: |
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Median List Price |
$189,500 |
Median Sold Price |
$175,000 |
June 1, 2008 – May 31, 2009 – All Homes
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22648 listings: |
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12064 Sold listings: |
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Median List Price |
$159,900 |
Median Sold Price |
$128,900 |
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Oakland County Market Analysis for April 2009
Oakland County Market Analysis for March 2009
Oakland County Market Analysis for February 2009
Oakland County Market Analysis for January 2009
Oakland County Michigan Realtor selling Oakland County Real Estate. TishHouse sells Houses - selling Real Estate in Southeastern Michigan 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.
