The following is a monthly market analysis for Rochester Hills Michigan. It compares only residential homes sold in Jan. 2009 with Dec. 2008 to determine the # of homes sold for the month and the increase/decrease in average sold price. It also distinguishes how many homes were recorded to be Bank Owned/HUD. as opposed to private owned. First figures include private, bank owned and short sales. In the latter part of 2008, Realtors were required to categorize ownership status so figures may not truly reflect the actual number of bank owned Jan. 2008. To insure that most leases were not included in data, minimum sale price used was $20,000.
Active & Solds January 2009
|
521 listings: |
|
30 Sold listings: |
|
|
Average List Price |
$310,976 |
Average Sold Price |
$182,312 |
|
Highest List Price |
$2,499,000 |
Highest Sold Price |
$287,000 |
|
Lowest List Price |
$40,900 |
Lowest Sold Price |
$20,000 |
|
Avg. DOM |
238 |
Avg. DOM |
142 |
|
Bank Owned |
60 listings |
Bank Owned |
15 Sold |
|
Average List Price |
$176,533 |
Average Sold Price |
$148,710 |
|
Avg. DOM |
105 |
Avg. DOM |
146 |
Active & Solds December 2008
|
540 listings: |
|
49 Sold listings: |
|
|
Average List Price |
$310,851 |
Average Sold Price |
$225,499 |
|
Highest List Price |
$2,499,000 |
Highest Sold Price |
$500,000 |
|
Lowest List Price |
$39,900 |
Lowest Sold Price |
$25,000 |
|
Avg. DOM |
232 |
Avg. DOM |
112 |
|
Bank Owned |
57 listings |
Bank Owned |
12 Sold |
|
Average List Price |
$175,653 |
Average Sold Price |
$146,792 |
|
Avg. DOM |
85 |
Avg. DOM |
62 |
Active & Solds January 2008
|
521 listings: |
|
30 Sold listings: |
|
|
Average List Price |
$314,672 |
Average Sold Price |
$238,896 |
|
Highest List Price |
$2,499,000 |
Highest Sold Price |
$600,000 |
|
Lowest List Price |
$44,900 |
Lowest Sold Price |
$65,000 |
|
Avg. DOM |
238 |
Avg. DOM |
119 |
|
Bank Owned |
51 listings |
Bank Owned |
6 Sold |
|
Average List Price |
$179,151 |
Average Sold Price |
$149,500 |
|
Avg. DOM |
88 |
Avg. DOM |
60 |
Market Analysis
|
Jan. 2009 compared to Dec. 2008 shows a 19% decrease in avg. sale price for all homes & a 40% decrease # of homes sold. Bank owned homes increased slightly in January. |
|
Jan. 2008 only had a 6% decrease in Avg. sold price compared to Dec. 2008 (11 months). I feel the Jan. 2009 figures do not necessarily reflect the current market & would wait until Feb. & March 2009 results to determine trends. Also see statistics compiled for Oakland County as the decrease from Dec. 08 to Jan. 09 was 8% (link below). |
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Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. |
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2008 Year End Market Analysis for Rochester Hills Michigan.
Oakland County Market Statisitcs for January 2009
2008 Year End Market Analysis for Oakland County Michigan
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 nice job keeping people in your market informed about what is going on.
Hey Cathy, are you mailing this out to all the homeowners in your database in Rochester Hills?
Great marketing opportunity with a cover letter.
Drew
Thanks Drew - good idea for the marketing but I want to wait and see how February does - I sent it to a client who wants to list their home in the next couple of months and wanted to know the change from December - not the news I was looking for.
I understand, but you won't be the EXPERT in the minds of your client if you ONLY deliver good news.
As professionals, we have to report the news as it comes. We can try to "spin" it to the positive a bit, but have to be careful we don't avoid the truth.
Drew