Real

Estate

Market

Statistics

For those of us (and I count myself among this group, who like to see “the numbers”.

These reports are compiled from data taken from the local Multi-List Service (MLS) or captured and reported by Real Estate One itself.

Typical Home Costs in the area - This little chart was compiled using local MLS data and comparing “typical” houses in several local areas. Obviously neither the “typical house” nor any specific house that is right on the averages actually exists, but it will give you a starting point to understand what a house with the criteria that are specified for each of the three “typical Houses” might cost in the areas surveyed.

For 2008, I’ve created a new set of statistics charts which will make it easier to spot trends, by showing the data on a week-by-week basis, but with the data persisting throughout the year. I’ve also expanded the areas being covered by my charts to now include Milford (Village and Township), Highland Twp, Commerce Twp (but excluding Wixom, Wolverine Lake and Walled Lake), White Lake Twp and West Bloomfield Twp. Those are the primary areas that I cover.

The Q1, 2008 County Market Reports are now posted.  These charts are by $100K price bands, which allow you to analyze how long it might take to sell your house, based upon the price band that it might fall into in the market. I call that the Market Velocity in your area. These reports are prepared and released by the Real Estate One market staff on  a quarterly basis. For a more up-to-the-minute look at what’s happening in a few of these markets, see the Y-T-D Marketing Charts above. To see what the sold and active market looks like on a weekly basis in a few of the local townships, view the Township market charts above.

Oakland County up to $600K       Wayne County up to $400K  

Wayne County, over $400K              Macomb County                             Livingston County                              

Down River Market                Washtenaw County Combined         Washtenaw Residential                   

 Washtenaw Condos

Market Charts by Township/City/Village  

I have decided to track and present here the statistics on the markets below.  Admittedly some of the groupings are arbitrary, but that’s just how I’ve decided to look at them. What I will be sharing on  a weekly basis are charts from the Realcomp II Multi-List Service (MLS) which show data on the active houses on the market. These would be useful for determining which areas to look in for houses in specific price ranges or to see what the competition in your area will be if you were to list your house. There is lots of other useful information about median prices, day on market and more. Enjoy! Usually updated weekly.

Markets

Milford Village & Twp - Active and Sold            Highland Twp - Active and Sold                         

Commerce Twp - Active and Sold                      White Lake Twp - Active and Sold                     

West Bloomfield Twp - Active and Sold    South Lyon & Lyon Twp - Active and Sold

Brigton City and Twp - Active and Sold             Green Oak Twp - Active and Sold   

Genoa Twp - Active and Sold                          Hartland & Oceola Twps - Active and Sold

Marion Twp. - Active and Sold                               Howell City and Twp. - Active and Sold

A detailed report of sold homes for the month in he areas surrounding the Village of Milford

The 1st Quarter Market Report from Dan Elsea, the President of the brokerage business for real estate One. Dan discusses what he saw in Q1 across the company’s market and what he see coming in the real estate market.

How much has your area lost in home values? Get an idea from the quarterly Zestimate from Zillow.com. This interactive map shows  the Q1 year-over-year loss (or gain) in home values for many of the market areas in the area that I cover - from Rochester to Fowlerville and Whitmore Lake to Oxford , yo can click on your area to see what the value loss has been. Zillo.com is a national home valuation web site that uses computer models to provide value estimates.

The lease market

While I focus primarily on what is selling in the markets that I track, I realize that many people are looking for leases. Many homes may be for rent and never show up int eh local Multi-list Service (MLS), since some homeowners just buy a little “For Rent” sign and stick it on the front lawn. The ones that are in the MLS normally are looking for longer term leases - 1-2 years. Here is an indication (as of 6-29-2008) of the number of homes listed in the MLS for lease in the area that I track.

Milford - 11    Highland Twp - 11        Commerce - 49        White Lake - 23        West Bloomfield - 98

Brighton - 15    Hartland/Oceola Twps - 10      Genoa Twp - 9      Marion Twp - 11      Howell - 9

If you want to see what houses are for lease in any of these areas, call or emial me and I’ll send you the MLS detail sheets on them. If you want to go see some, let me set up appointments.