Farmington MI homes for sale

Farmington MI Real estate

Farmington Michigan is located in the Southwestern Corner of Oakland County.  Home values across Metro Detroithave fallen 30 to 50% in the last few years.  Farmington home values haven’t fallen 50% but they have dropped heavily in the last few years.  Here is the latest Farmington real estate update for January 2009.  Only 3 Farmington homessold out of the 44 Farmington homes for sale.  The average time on the market is 144 days for homes for sale.  The homes that sold were on the market an average of 50 days.

Farmington homes for sale

Farmington Home Price Statistics Legend

Price Range Number of Listings Days on Market
40,000 to 60,000 1 29
60,001 to 80,000 1 81
80,001 to 100,000 8 212
100,001 to 120,000 3 55
120,001 to 140,000 7 76
140,001 to 160,000 11 171
160,001 to 180,000 2 337
180,001 to 200,000 4 134
200,001 to 220,000 1 315
220,001 to 240,000 1 10
240,001 to 260,000 1 125
260,001 to 280,000 1 9
280,001 to 300,000 1 29
300,001 to 320,000 0 0
320,001 to 340,000 0 0
340,001 to 360,000 0 0
360,001 to 380,000 0 0
380,001 to 400,000 0 0
400,001 to 420,000 0 0
420,001 to 425,000 2 99

For the 44 listings: For the 3 Sold listings:
Average List Price $159,562.00 Average Sold Price $110,300.00
Median List Price $146,750.00 Median Sold Price $118,000.00
Highest List Price $425,000.00 Highest Sold Price $127,900.00
Lowest List Price $60,000.00 Lowest Sold Price $85,000.00
List Volume $7,020,744.00 Sales Volume $330,900.00
Avg. Days On Market 143 Avg. Days On Market 50

 

Farmington Mi foreclosures are selling quicker than most Metro Detroit area homesthat are owned by private home owners.  It is simply because they are priced so much less than many homeowners can afford to sell.  2 Farmington foreclosures sold in the last month (out of the 11 foreclosures on the market).  The average time on the market forFarmington foreclosures for sale is 40 days.  And the average time on the market for sold foreclosures is 37.

 

Farmington foreclosures Price Statistics Legend

Price Range Number of Listings Days on Market
50,000 to 60,000 1 29
60,001 to 70,000 1 81
70,001 to 80,000 0 0
80,001 to 90,000 1 61
90,001 to 100,000 2 23
100,001 to 110,000 1 58
110,001 to 120,000 0 0
120,001 to 130,000 2 21
130,001 to 140,000 0 0
140,001 to 150,000 0 0
150,001 to 160,000 1 1
160,001 to 170,000 0 0
170,001 to 180,000 0 0
180,001 to 189,900 2 64

For the 11 listings: For the 2 Sold listings:
Average List Price $120,791.00 Average Sold Price $106,450.00
Median List Price $120,000.00 Median Sold Price $106,450.00
Highest List Price $189,900.00 Highest Sold Price $127,900.00
Lowest List Price $60,000.00 Lowest Sold Price $85,000.00
List Volume $1,328,700.00 Sales Volume $212,900.00
Avg. Days On Market 40 Avg. Days On Market 37

To search Farmington Homes  for sale go to my other website Wayne and Oakland County real estate.

May you and your family stay warm and safe on this bitterly cold weekend.

Russ Ravary

Your Local Farmington Realtor

Photos, Comps, and Listing information courtesy of Real Comp II LTD

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