Friday, January 13, 2006

Birmingham Michigan Market Conditions

Residential Highlights ... Birmingham, Michigan

This is a great time to be looking for a home when the prices are reasonable. Oakland County Michigan's inventory is on the rise. The 12,498 active residential listings at the end of last quarter would last 12.34 months at the current rate of sales. Oakland county saw 3rd quarter 2004 sales of 4,160 homes Sold drop to 3rd quarter 2005 sales of 3,037 homes Sold. Sales dropped 26.99%.

Appreciation Not Continuing...Average sale prices didn't appreciate, but it went down very little. During the 3rd Quarter that ended with Sept. 2005 it was down 0.0762% from the 3rd quarter ending Sept. 2004 ($262,400 v. $262,600).

1 comment:

Margaret Rome said...

Good information for the buyers. Thanks for posting.
Margaret Rome