Detroit Area Home Sales Continue Climb
FARMINGTON HILLS -- Real estate sales in the Detroit area posted another monthly gain in November compared to November 2011, and prices jumped even faster.
The number of sales in the 10-county region for the month was 5,506 in November, up 7.2 percent from 5,134 in November 2011. And the median sale price was $87,550, up 25.1 percent from $70,000 in the same month a year earlier.
And the sales growth came entirely in non-foreclosure transactions, which grew 18.3 percent to 3,682, from 3,112 a year earlier. Foreclosure sales in the region fell 9.8 percent to 1,824 from 2,022 a year earlier.
Homes are also selling faster, with the average days a home spent on the market before selling falling to 74 in November, from 89 days in November 2011. And the number of homes on the market fell to 23,829, down 18.4 percent from 29,209 a year earlier. Of that inventory, 12.5 percent of homes, or 2,972, are identified as foreclosure sales, and 21 percent, or 4,917, are identified as short sales.
By counties and the city of Detroit within the region, sales for November were as follows:
City of Detroit: 278 foreclosure sales, down 0.7 percent from 280 a year earlier. 175 non-foreclosure sales, down 9.3 percnet from 193 a year earlier. Median sale price on foreclosure sales, $8,375, up 9.7 percent from $7,635 a year earlier. Median sale price on non-foreclosure sales, $14,000, down 12.5 percent from $16,000 a year earlier.
Genesee County: 181 foreclosure sales, down 10 percent from 201 a year earlier. 261 non-foreclosure sales, up 15.5 percent from 226 a year earlier. Median sale price on foreclosure sales, $34,623, up 13.1 percent from $30,300 a year earlier. Median sale price on non-foreclosure sales, $90,000, up 20 percent from $75,000 a year earlier.
Huron County: One foreclosure sale, up from none a year earlier. 11 non-foreclosure sales, up 37.5 percent from eight a year earlier. Median sale price on foreclosure sales, $40,000. Median sale price on non-foreclosure sales, $60,000, down 12.4 percnet from $68,500 a year earlier.
Lapeer County: 33 foreclosure sales, up 10 percent from 30 a year earlier. 54 non-foreclosure sales, up 54.3 percent from 35 a year earlier. Median sale price on foreclosure sales, $61,700, up 3.3 percent from $59,750 a year earlier. Median sale price on non-foreclosure sales, $120,000, up 39.2 percnet from $86,200 a year earlier.
Livingston County: 51 foreclosure sales, down 8.9 percent from 56 a year earlier. 187 non-foreclosure sales, up 29.9 percent from 144 a year earlier. Median sale price on foreclosure sales, $95,000, down 5.4 percent from $100,474 a year earlier. Median sale price on non-foreclosure sales, $177,460, up 13.8 percent from $155,950 a year earlier.
Macomb County: 291 foreclosure sales, down 19.4 percent from 361 a year earlier. 630 non-foreclosure sales, up 19.8 percent from 526 a year earlier. Median sale price on foreclosure sales, $50,555, up 9.7 percent from $46,100 a year earlier. Median sale price on non-foreclosure sales, $100,000, up 20.1 percnet from $83,250 a year earlier.
Oakland County: 414 foreclosure sales, down 4.4 percent from 433 a year earlier. 1,056 non-foreclosure sales, up 16.6 percent from 906 a year earlier. Median sale price on foreclosure sales, $75,000, up 42.7 percent from $52,572 a year earlier. Median sale price on non-foreclosure sales, $162,000, up 15.7 percnet from $140,000 a year earlier.
Sanilac County: Six foreclosure sales, down 14.3 percent from seven a year earlier. Eight non-foreclosure sales, up 166.7 percent from three a year earlier. Median sale price on foreclosure sales, $47,649, up 164.7 percent from $18,000 a year earlier. Median sale price on non-foreclosure sales, $74,950, down 13.9 percent from $87,000 a year earlier.
St. Clair County: 43 foreclosure sales, up 4.9 percent from 41 a year earlier. 84 non-foreclosure sales, up 21.7 percent from 69 a year earlier. Median sale price on foreclosure sales, $38,000, down 26.2 percnet from $51,500 a year earlier. Median sale price on non-foreclosure sales, $103,000, up 5.1 percent from $98,000 a year earlier.
Tuscola County: Seven foreclosure sales, the same as a year earlier. 14 non-foreclosure sales, up 27.3 percent from 11 a year earlier. Median sale price on foreclosure sales, $24,000, down 25.6 percent from $32,250 a year earlier. Median sale price on non-foreclosure sales, $89,500, up 42.1 percent from $63,000 a year earlier.
Wayne County, excluding Detroit: 451 foreclosure sales, down 2.6 percent from 468 a year earlier. 886 foreclosure sales, up 15.5 percent from 767 a year earlier. Median sale price on foreclosure sales, $39,011, up 8.4 percent from $36,001 a year earlier. Median sale price on non-foreclosure sales, $90,000, up 16.9 percent from $77,000 a year earlier.
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