According to the MLS reports compiled by the Michigan Association of REALTORS®, 11,477 single-family homes were sold in July, 2012, an increase of 14% over July, 2011 while the July 2012 average sales price was $116,116, a 6.55% increase over the 2011. Nearly all local reporting units (31 of 41) across Michigan show an increase in average sales price over July, 2011 including Ann Arbor (11.81%), Greater Wayne County (11.9%), Jackson Area (40.69%) and Oakland County (11.06%). Nationally, existing home sales have risen 10% from comparable period last year with Michigan reporting the same increase.
With 80% of the MLSs reporting an increase in the number of home sales in July, 75% reported an increase in average selling price as well.Â
Key Statistics:
$106,903 – 2012 average sales price, YTD
70,808 – 2012 single family units sold, YTD
$7.6 billion – 2012 total sales volume, YTD
Monthly housing statistics for MAR are reported by participating Michigan REALTOR® local boards and associations.
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Tags: Detroit, Housing Market Conditions, Housing Market News