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The latest statistics from the Southeastern Michigan MLS are in, and we wanted to give those to you today. If you want a full copy of the report, we’d be glad to send it to you but for now, let’s talk about what’s been happening in our market:
- July was one of the best sales months in over 10 years for single-family home sales.
- MLS sales increased by 9.3%.
- The median home price climbed by 7.7%, which is a 10-year high.
- The median sale price has risen from $149,000 to $161,000.
- The average time on market is at 41 days.
- Inventory in Metro Detroit is at 25,700, up 2% from last year.
- 94.5% of inventory is designated as non-foreclosure. During the recession, over 40% of homes were short sales or foreclosures.
If you have any questions for us about these numbers, or if you want a copy of the full report, just give us a call or send us an email and we’d be glad to help out. Talk to you soon!
