Birmingham Michigan Market Analysis Homes Sold July 2009
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July 09 median sale prices decreased 2% from June 09 & a 13.5% decrease # of homes sold. Private owned homes median price decreased 2% in July 09 from June 09. Bank owned homes median price increased 23% in July 09 from June 09. |
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July 09 median sale price decreased 2% from July 08. |
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Year ending July 2009 median sale price compared to yr ending July 08 decreased 19% |
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Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. |
Active & Solds July 2009
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400 listings: |
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32 Sold listings: |
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Median List Price |
$442,450 |
Median Sold Price |
$295,000 |
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Avg. DOM |
186 |
Avg. DOM |
110 |
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Private Owned |
371 listings |
Private Owned |
20 Sold |
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Median List Price |
$455,000 |
Median Sold Price |
$370,000 |
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Bank Owned |
29 listings |
Bank Owned |
12 Sold |
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Median List Price |
$153,450 |
Median Sold Price |
$250,000 |
Active & Solds June 2009
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407 listings: |
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37 Sold listings: |
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Median List Price |
$400,000 |
Median Sold Price |
$300,000 |
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Private Owned |
381 listings |
Private Owned |
25 Sold |
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Median List Price |
$444,900 |
Median Sold Price |
$378,990 |
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Bank Owned |
26 listings |
Bank Owned |
12 Sold |
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Median List Price |
$167,450 |
Median Sold Price |
$192,450 |
Active & Solds July 2008
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394 listings: |
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26 Sold listings: |
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Median List Price |
$432,400 |
Median Sold Price |
$302,500 |
August 1, 2008 – July 31, 2009
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650 listings: |
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282 Sold listings: |
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Median List Price |
$374,450 |
Median Sold Price |
$263,750 |
August 1, 2007– July 31, 2008
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602 listings: |
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234 Sold listings: |
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Median List Price |
$399,000 |
Median Sold Price |
$326,500 |
Compares only median sold price of residential homes sold in July 09 with June 09 & July 08; year ending July 08 with yr ending July 09. It shows all homes sold then private owned vs. Bank Owned/HUD. To exclude leases in data, minimum sale price used was $15,000.
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Market Analysis for Birmingham June 2009
Market Analysis for Birmingham May 2009
Market Analysis for Birmingham April 2009
Market Analysis for Birmingham March 2009
Market Analysis for Birmingham February 2009
Birmingham Michigan January 2009 Market Analysis
Oakland County Market Analysis for July 2009
Oakland County Market Analysis for June 2009
Oakland County Market Analysis for May 2009
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That's a big increase in bank owned sales prices! Is this the result of multiple offers? It looks like the average bank owned listing price is still low.
It fluctuates month to month in the cities where there are higher priced homes such as Birmingham. There was probably one or two more expensive ones mixed in that month and brought it up so we have to look over several months for a more accurate picture. We do get A LOT of multiple offers on foreclosed homes right now. There are so many investors who are taking advantage of the market.