Monthly statistical summary for December 2012, Lapeer and Oakland Counties.
MEDIAN PRICES RISE AS INVENTORY LEVELS SHRINK
AVERAGE DAYS ON MARKET DECREASES BY NEARLY 2 WEEKS
Lapeer County:
Residential sales up 5.2%, median sale price $93,500 down 1.6%.
Number of on market listings 444 down 10.5%, number of foreclosure sales up 22.2%.
Number of non-foreclosure sales down 4.0%, average days on market 170.
Oakland County:
Residential sales down 4.9%, median sale price $139,300 up 21.1%.
Number of on market listings 4,615 down 24.5%, number of foreclosure sales down 25.4%.
Number of non-foreclosure sales up 6.2%, average days on market 74.
Analysis:
Average days on market for the entire areas decreased from last year by 11 days or 13%.
11.9% of all sales closed in December of this year were short sales.
The median sale price in December increased up by 21.4% over last year.
On market inventory declined by 20.6% in December.
12.5% of the on market inventory are foreclosures.
19.8% are identified as short sales.
references: realcomp 2 ltd.
Donald Horne, Team Success Listing
Associate Broker for Coldwell Banker Shooltz Realty
248-969-8065 or 810-338-0628
donaldhorne.realtor@gmail.com