The following is a monthly market analysis for Birmingham Michigan. It compares only residential homes sold in Feb. 2009 with Jan. 2009 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 Feb. 2008. Birmingham Market Analysis also compares year ending Feb. 2008 to Feb. 2009. To insure that most leases were not included in data, minimum sale price used was $25,000.
Market Analysis
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Feb. 09 median sale price increased 38% from Jan. 09 & an 89% increase # of homes sold. Bank owned homes median price decreased less than 1% in Feb. 09 from Jan. 09 |
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Feb. 09 median sale price decreased 10% from Feb. 08 & 23% decrease in # homes sold. Bank owned homes median price decreased 14% in Feb. 09 from Feb. 08 |
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Medium Sale price yr ending Feb. 2008 compared to yr ending Feb. 2009 decreased 17%; |
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Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. |
Active & Solds February 2009
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384 listings: |
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17 Sold listings: |
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Average List Price |
$692,985 |
Average Sold Price |
$315,215 |
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Median List Price |
$449,450 |
Median Sold Price |
$275,000 |
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Highest List Price |
$4,995,000 |
Highest Sold Price |
$925,000 |
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Lowest List Price |
$49,900 |
Lowest Sold Price |
$108,000 |
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Avg. DOM |
227 |
Avg. DOM |
134 |
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Bank Owned |
39 listings |
Bank Owned |
7 Sold |
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Median List Price |
$160,000 |
Median Sold Price |
$138,000 |
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Avg. DOM |
101 |
Avg. DOM |
56 |
Active & Solds January 2009
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376 listings: |
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9 Sold listings: |
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Average List Price |
$699,185 |
Average Sold Price |
$315,556 |
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Median List Price |
$449,950 |
Median Sold Price |
$199,000 |
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Highest List Price |
$4,995,000 |
Highest Sold Price |
$970,000 |
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Lowest List Price |
$49,900 |
Lowest Sold Price |
$85,000 |
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Avg. DOM |
228 |
Avg. DOM |
101 |
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Bank Owned |
36 listings |
Bank Owned |
4 Sold |
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Median List Price |
$165,000 |
Median Sold Price |
$139,250 |
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Avg. DOM |
105 |
Avg. DOM |
59 |
Active & Solds February 2008
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389 listings: |
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22 Sold listings: |
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Average List Price |
$687,048 |
Average Sold Price |
$312,602 |
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Median List Price |
$449,000 |
Median Sold Price |
$305,000 |
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Highest List Price |
$4,995,000 |
Highest Sold Price |
$650,000 |
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Lowest List Price |
$49,900 |
Lowest Sold Price |
$100,000 |
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Avg. DOM |
227 |
Avg. DOM |
149 |
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Bank Owned |
39 listings |
Bank Owned |
7 Sold |
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Median List Price |
$175,000 |
Median Sold Price |
$160,000 |
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Avg. DOM |
99 |
Avg. DOM |
79 |
March 1, 2007 - Feb. 29, 2008
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588 listings: |
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212 Sold listings: |
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Median List Price |
$427,000 |
Median Sold Price |
$340,000 |
March 1, 2008 - Feb. 28, 2009
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593 listings: |
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226 Sold listings: |
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Median List Price |
$390,000 |
Median Sold Price |
$281,250 |
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Birmingham Michigan January 2009 Market Analysis
Year End Market Analysis for Oakland County 2008 compared to 2007
Oakland County Market Analysis for January 2009
Birmingham 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.
Great localism post . Good information for consumers. I hope they will read it and call you to buy or sell Real Estate.
Cathy,
you might want to consider putting your analysis at the top of your post as that's what visitors will read first. Many might not scroll down past the statistics to get to the summary. I'd also hi-lite the analysis and put your own spin on it. That will go farther in getting consumers to identify with you:)
Great post though, keep sharing!
Gita: Thanks for the good wishes about selling more real estate - this post is ranked high if someone types in Birmingham Market Analysis - hopefully people want to keep abreast.
Drew: Thanks - I was just considering that the analysis should be at the top - especially on this one since the market improved this month in Birmingham.
Cathy very nice analysis for the market in Birmingham. I am sure your readers enjoy seeing your monthly reports.