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January 2016 Metro Detroit Sales Report

The January Metro-Detroit and greater area has been published by Realcomp the MLS for the area. The highlighes are that inventory is still very tight, 

 

• All MLS sales for the month were up by 11.4% from 3,971 to 4,423.

• The median sale price for All MLS sales was up 11.3% from $124,000 to $138,000

• Average Days On-Market (DOM) for All MLS stayed the same at 58 days.

• On market inventory decreased since last January by 2% from 20,260 to 19,854.

• 94.2% of the on market inventory is designated as non-foreclosures and 5.8% is designated as foreclosures. 

January 2016 Combined Residential & Condo MEDIAN SALE PRICE and Closed Sale Summary by: 

County/area        Jan. 16                     Jan. 15              % Change

Livingston          $193,950 /176         $190,000/190       2.1/17.3

Gr. Wayne          $115,000/1013        $96,000/947         19.8/7.0

Oakland              $190,000/1235        $175,000/1066     8.6/15.9

Published Wednesday, February 24, 2016 3:24 PM by Scott Petersen

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