The following is a monthly market analysis for Birmingham Michigan. It compares median price of 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. The Market Analysis also compares homes sold in Birmingham Michigan in Jan. 2008 to December 2008 to determine an annual decrease in property values.
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 $25,000.
Active & Solds January 2009
|
380 listings: |
|
8 Sold listings: |
|
|
Average List Price |
$704,441 |
Average Sold Price |
$312,938 |
|
Median List Price |
$462,450 |
Median Sold Price |
$188,800 |
|
Highest List Price |
$4,995,000 |
Highest Sold Price |
$970,000 |
|
Lowest List Price |
$69,900.00 |
Lowest Sold Price |
$85,000 |
|
Avg. DOM |
227 |
Avg. DOM |
91 |
|
Bank Owned |
44 listings |
Bank Owned |
4 Sold |
|
Median List Price |
$174,950 |
Median Sold Price |
$139,250 |
|
Avg. DOM |
96 |
Avg. DOM |
59 |
Active & Solds December 2008
|
389 listings: |
|
17 Sold listings: |
|
|
Average List Price |
$692,725 |
Average Sold Price |
$258,694 |
|
Median List Price |
$450,000 |
Median Sold Price |
$215,000 |
|
Highest List Price |
$4,995,000 |
Highest Sold Price |
$585,000 |
|
Lowest List Price |
$69,900 |
Lowest Sold Price |
$63,000 |
|
Avg. DOM |
222 |
Avg. DOM |
56 |
|
Bank Owned |
50 listings |
Bank Owned |
10 Sold |
|
Median List Price |
$163,750 |
Median Sold Price |
$129,000 |
|
Avg. DOM |
86 |
Avg. DOM |
36 |
Active & Solds January 2008
|
387 listings: |
|
15 Sold listings: |
|
|
Average List Price |
$698,357 |
Average Sold Price |
$339,820 |
|
Median List Price |
$459,900 |
Median Sold Price |
$249,900 |
|
Highest List Price |
$4,995,000 |
Highest Sold Price |
$820,000 |
|
Lowest List Price |
$69,900 |
Lowest Sold Price |
$105,000 |
|
Avg. DOM |
226 |
Avg. DOM |
145 |
|
Bank Owned |
45 listings |
Bank Owned |
5 Sold |
|
Median List Price |
$193,500 |
Median Sold Price |
$235,000 |
|
Avg. DOM |
100 |
Avg. DOM |
109 |
Market Analysis
|
Jan. 09 median sale price decreased 12% from Dec. 08 & a 53% decrease # of homes sold. Bank owned homes median price increased 7% in Jan.09 |
|
Jan. 09 median sale price decreased 24% from Jan. 08 & 47% decrease in # homes sold. Bank owned homes median price comparing Jan. 08 & Jan. 09 decreased 41% |
|
Medium Sale price from 2007 to 2008 decreased 17%; Jan. 08 median sale price compared to Dec. 08 decreased 14%. January 09 was a slow month in many areas so my opinion is the 14% annual decrease is a more accurate reflection of the market until we view February & March statistics to see if there is a consistent downward trend for 2009. |
|
Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. |
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Rochester Hills Michigan Market Statistics for January 2009.
Oakland County Market Statisitcs for January 2009
2008 Year End Market Analysis for Oakland County Michigan.
Birmingham 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 your readers informed about what is going on in the local RE market!