Home prices jumped 48 percent from September 2012, while sales in the region increased by 7.1 percent, according to data released Monday by the multiple listing service Realcomp Ltd. II in Farmington Hills. The median sales price jumped the most in Wayne County, where the figure surged by 50.8 percent, going from $50,000 in September of last year to $75,399 last month
According to data released by Farmington Hills-based Realcomp II Ltd., the median sale price in the four-county metro Detroit hit $130,000 last month, up from $87,859 in September 2012.
The September figures follow August's 55 percent sales price increase over August 2012 figures. Sales prices have seen a year-over-year increase every month this year in metro Detroit, said Karen Kage, Realcomp CEO.
Other data, according to Realcomp:
- In metro Detroit, home sales increased by 7.1 percent from 4,509 in September 2012 to 4,830 in September 2013.
- Oakland home sales increased by 17.5 percent from 1,493 in September 2012 to 1,755 last month.
- Macomb home sales increased by 6.7 percent from 968 in September 2012 to 1,033 last month.
- Livingston home sales increased by 27.2 percent from 228 in September 2012 to 290 last month.
On-market listings fell by 16.8 percent in metro Detroit from 18,680 in September 2012 to 15,551 last month. Listings dropped in all four metro counties from September 2012 to last month. Macomb listings dropped 13.4 percent, Oakland dropped 11.7 percent, Wayne dropped 21.7 percent and Livingston dropped 17.7 percent.
Ronald Dwyer is a Real Estate Agent working with buyers and sellers. He is also an independent insurance agent licensed in Michigan for Home - Auto – Motorcycle - Watercraft - Business Insurance. He can be reached at rondwyer@roninsureme.com or 248-390-6345. His real estate website is http://www.dwyerproperties.com is http://www.roninsureme.com or Twitter @ronalddwyerin sFacebook: http://www.facebook.com/dwyerinsurance / Linkedin:http://www.linkedin.com/in/ronalddwyer
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