The following is a monthly market analysis for Ferndale 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 do not truly reflect the actual number of bank owned Feb. 2008 so bank owned is not calculated. This Ferndale Market Analysis also compares February YTD 08 to 09. To insure that most leases were not included in data, minimum sale price used was $3,000.
Market Analysis
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Feb. 09 median sale price increased 10% from Jan. 09 & a 23% increase # of homes sold. Bank owned homes median price increased 14% in Feb. 09 from Jan. 09 |
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Feb. 09 median sale price decreased 64% from Feb. 08 & 38% increase in # homes sold. |
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Medium Sale price yr ending Feb. 2008 compared to yr ending Feb. 2009 decreased 43% |
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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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343 listings: |
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32 Sold listings: |
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Average List Price |
$92,858 |
Average Sold Price |
$44,067 |
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Median List Price |
$87,900 |
Median Sold Price |
$29,000 |
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Highest List Price |
$279,900 |
Highest Sold Price |
$135,000 |
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Lowest List Price |
$8,000 |
Lowest Sold Price |
$3,455 |
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Avg. DOM |
151 |
Avg. DOM |
57 |
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Bank Owned |
73 listings |
Bank Owned |
23 Sold |
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Median List Price |
$29,900 |
Median Sold Price |
$23,175 |
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Avg. DOM |
87 |
Avg. DOM |
66 |
Active & Solds January 2009
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336 listings: |
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25 Sold listings: |
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Average List Price |
$94,086 |
Average Sold Price |
$46,951 |
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Median List Price |
$89,449 |
Median Sold Price |
$26,000 |
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Avg. DOM |
157 |
Avg. DOM |
101 |
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Bank Owned |
68 listings |
Bank Owned |
18 Sold |
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Median List Price |
$29,900 |
Median Sold Price |
$20,000 |
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Avg. DOM |
97 |
Avg. DOM |
75 |
Active & Solds February 2008
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331 listings: |
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20 Sold listings: |
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Median List Price |
$90,000 |
Median Sold Price |
$80,000 |
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Avg. DOM |
161 |
Avg. DOM |
155 |
March. 1, 2007 - Feb. 29, 2008
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633 listings: |
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322 Sold listings: |
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Median List Price |
$99,900 |
Median Sold Price |
$105,132 |
March. 1, 2008 - Feb. 28, 2009
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704 listings: |
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393 Sold listings: |
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Median List Price |
$74,950 |
Median Sold Price |
$60,000 |
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Oakland County Market Analysis for February 2009
Oakland County Market Analysis for January 2009
Year End Market Analysis for Oakland County 2008 compared to 2007
Ferndale 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.
Thank you for taking the time to share your market statistics. This is a great tool for both buyers and sellers.
Thanks Cathy for the breakdown. I'm amazed at the changes we've seen in just the last year.
Cathy as usual a timely market report keeping everyone informed on what is going on in your area.
Jim, Tom & Bill: A market analysis I did this month was to determine "what's so" when making an offer on a home - in this market, it is more essential than ever before.