Scott Petersen - Canton - Plymouth - Real Estate

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Scott Petersen

Spring is heating up!

The metro Detroit real estate market continued to improve, at a healthy level for March 2016 according to the Farmington Hills based MLS Real Comp II. Sales increased 7.2 and prices  7.3%. Inventory of on market homes are still very low, with homes priced at market receiving multiple offers within hours.  


Real Comp II released the Metro-Detroit market statistics for March
* All MLS sales for the month were up 7.2% Y-O-Y
* The median sale price for All Realtor listed (MLS) sales was up 7.3% Y-O-Y, from $135,000 to $144,900.
* Average Days On-Market (DOM) for All Realtor (MLS) sales was down by 2 days Y-O-Y, from 60 to 58.
* On market inventory decreased by 6.3% Y-O-Y, from 19,413 to 18,197.
* 94% of the on market inventory is designated as non-foreclosures and 6% is designated as foreclosures. Last year, 93% of the on market inventory was designated as non-foreclosures and 7% was designated as foreclosures.

Published Thursday, April 14, 2016 10:27 AM by Scott Petersen

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Ted Mills said:

I was just reading about Detroit's real estate market on .It was an analysis actually. Thank you so much for sharing this with us.Keep up the good work!

May 11, 2018 9:38 AM

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