The following is a monthly market analysis for Oakland County 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 all homes-private, bank owned, HUD and short sales. In the latter part of 2008, Realtors were required to categorize ownership status so statistics are not included for bank owned Feb. 2008. Oakland County 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 for Oakland County February 2009
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Southfield & Pontiac are cities hit heavily with foreclosures which affect the overall median price of homes sold in Oakland County. Taking out these cities in the analysis shows a 16% higher overall sold median price and a 14% higher sold price in bank owned for Feb. 09. For Jan. 09: 15% higher overall and 10% higher bank owned |
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Feb. 09 median sale price increased 5% from Jan. 09 & an 8% increase # of homes sold. Bank owned homes median price increased 4% in Feb. 09 from Jan. 09 |
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Feb. 09 median sale price decreased 35% from Feb. 08 & 4% increase in # homes sold. Feb. 08 figures could not be calculated (explained above). Keep in mind that there is a big percentage difference when some cities are excluded as described above. |
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Medium Sale price yr ending Feb. 2008 compared to yr ending Feb. 2009 decreased 23%; |
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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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11435 listings: |
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705 Sold listings: |
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Average List Price |
$293,074 |
Average Sold Price |
$134,197 |
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Median List Price |
$180,000 |
Median Sold Price |
$100,000 |
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Highest List Price |
$11,500,000 |
Highest Sold Price |
$925,000 |
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Lowest List Price |
$9,900 |
Lowest Sold Price |
$10,000 |
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Avg. DOM |
195 |
Avg. DOM |
107 |
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Bank Owned |
2097 listings |
Bank Owned |
459 Sold |
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Median List Price |
$79,900 |
Median Sold Price |
$68,000 |
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Avg. DOM |
90 |
Avg. DOM |
73 |
Actives & Solds Feb. 09 w/o Pontiac & Southfield
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10290 listings: |
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607 Sold listings: |
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Median List Price |
$199,900 |
Median Sold Price |
$119,000 |
Bank Owned Actives & Solds Feb. 09 w/o Pontiac & Southfield
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1710 listings: |
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390 Sold listings: |
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Median List Price |
$94,900.00 |
Median Sold Price |
$79,500.50 |
Active & Solds January 2009
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11378 listings: |
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648 Sold listings: |
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Average List Price |
$293,337 |
Average Sold Price |
$129,421 |
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Median List Price |
$180,000 |
Median Sold Price |
$95,000 |
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Avg. DOM |
196 |
Avg. DOM |
113 |
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Bank Owned |
2056 listings |
Bank Owned |
417 Sold |
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Median List Price |
$79,900 |
Median Sold Price |
$65,000 |
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Avg. DOM |
94 |
Avg. DOM |
86 |
Actives & Solds Jan. 09 w/o Pontiac & Southfield
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10235 listings: |
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552 Sold listings: |
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Median List Price |
$199,900 |
Median Sold Price |
$112,000 |
Bank Owned Actives & Solds Jan. 09 w/o Pontiac & Southfield
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1663 listings: |
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333 Sold listings: |
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Median List Price |
$90,000 |
Median Sold Price |
$72,000 |
Active & Solds February 2008
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11408 listings: |
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678 Sold listings: |
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Median List Price |
$185,900 |
Median Sold Price |
$154,000 |
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Avg. DOM |
197 |
Avg. DOM |
134 |
March 1, 2007 - Feb. 29, 2008 - All Homes
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20713 listings: |
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9981 Sold listings: |
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Median List Price |
$189,900 |
Median Sold Price |
$184,000 |
March 1, 2008 - Feb. 28, 2009 - All Homes
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22200 listings: |
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11468 Sold listings: |
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Median List Price |
$164,900 |
Median Sold Price |
$142,000 |
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Oakland County Market Analysis for January 2009
Year End Market Analysis for Oakland County 2008 compared to 2007
Oakland County 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.
