.

Macomb County is No Longer a Buyers' Housing Market, Realtor Says

As home sales decreased last month for the first time in a year, the average price of homes for sale has increased in Shelby Township, Utica and the rest Macomb County by 10 percent.

Home sales were down in September in metro Detroit, for the first time in a year, according to figures released by Farmington Hills-based Realcomp.

But the good news is the average sale price in metro Detroit was up last month by 17 percent with Macomb and Livingston counties seeing a 10 percent increase, and Oakland County leading the way with a nearly 30 percent increase in price.

Realcomp defines Metro Detroit as Oakland, Wayne, Livingston and Macomb counties

Macomb County Realtor Chris Taylor of Keller Williams told Patch he has been working hard to educate his clients on the dramatic shift in the real estate market in the past year.  

“We have officially shifted to a seller’s market,” said Taylor. “Currently there are around 2,300 properties for sale in Macomb County. At the current rate of sale that's only about 2 2 1/2 months supply. As the demand goes up, and the supply goes down, people are able to command more money for their homes.”

In fact, Taylor said there is a 97 percent rate of sellers getting their asking price in Macomb County, according to MI Realsource.  

Franca Calagna with Weichert Realtors in Shelby Township said homes that are priced right are selling.

"It's not like you're making a lot of money on your home sale, but the market is coming back," she said.

Realcomp September Macomb Co. Real Estate By The Numbers

  • Listings: In September, 2012, there were 3,347 residential and condos listed for sale, compared to 3,942 in 2011, which resulted in a -15 percent decrease in homes on the market.
  • The number of foreclosures on the market dropped slightly, 3.2 percent, with 336 in 2012 and 337 in 2011.
  • The number of non-foreclosure sales increased about 8 percent with 583 in 2011 to 632 in 2012.
  • There was a 4.1 percent increase in Macomb Co. homes for sale. In September 2012, 968 homes sold, compared to 930 in 2011.
  • The average sale price for foreclosures has increased by 12.1 percent in Macomb County, going from an average $44,500 in 2011 to $49,900.
  • The average non-foreclosure home in Macomb County was sold for $100,000 compared to $91,965, an 8.7 percent increase.
  • 65 is the average amount of days a home spent on the market in Macomb County.
  • The most expensive property in Macomb County in 2012 was listed at $1,395,000 and sold for $1,020,000.

For more information, visit realcomp.com.

Romney2012 October 15, 2012 at 09:37 PM
Liberal lies! Take your tools of evil, math and science, and show them to the door! This country is way worse off with Obama. I don't care what your "science" says. George Bush had us on the up-and-up after Bill Clinton invaded Iraq and Afghanistan then Obama came along and screwed everything up. Now our boys overseas will be there until a Republican can "fly" in and save the day. Praise George Bush. Praise be to Jesus. To heck with every last union member! Vote Romney. Vote Ryan. Vote creationism. Don't vote for equal marriage rights. Vote Republican.
ASP October 16, 2012 at 09:43 PM
You people are so obtuse in your thinking. The longer you insist that the market is healthy and continue to spew erroneous blather about how it is getting better then the longer this market will be severely ill and the longer it will take to get out of this housing depression. I don't understand how a buyer in the worst housing crash since the great depression can ever contemplate paying full asking price or above asking price. How stupid do you have to be to pull a stunt like that? I mean this is the largest purchase a person will ever make in their entire life and they do not try to negotiate a lesser amount. I cannot wait until the day Europe crumbles, the stock market crashes, jobs are slashed and burned, and interest rates sky rocket. So load up you dim witted fools pay double or triple the asking price on that house you so love. This dead cat bounce is going to hurt more than the last housing bubble we went through. Sad, so so sad!!!!!

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something