Metro Detroit homes sales
Overall from our prospective in the trenches is that home prices are creeping up. Metro Detroit homesthat you could pick up cheap are no longer available or have jumped in price. Homes whether they are in Novi, Northville, Milford, Farmington Hills, or Garden City have moved up in price. Foreclosures outside the city of Detroit have dropped in the last two years.
The median sale price for June for the MLS rose by 21.4% as compared to last year.
Overall, YTD sales are up by 7.7% compared to last year. Of the 6,491 sales closed in June of this year, 10.9% (708) were identified as short sales. 44.7% of all sales this month were identified as cash sales.
Median sale price is highest in June for Oakland County at $140,000 since 2008, and highest in Wayne County at $43,785 since 2007…
So that is good news on Metro Detroit sales.
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Homes for sale in Oakland County Michigan