Here is the Analysis:
• Average Days On-Market (DOM) for the entire MLS decreased from last year by 9 days, from 90 to 81.
• Overall, YTD sales are up by 7.7% compared to last year. Of the 6,491 sales closed in June of this year, 10.9% (708) were identified as short sales. 44.7% of all sales this month were identified as cash sales.
• The YTD average median price for ALL MLS is up by 14.2% compared to last year.
• The median sale price for June for All MLS rose by 21.4% as compared to last year.
• Median sale price is highest in June for Oakland County since 2008, highest in Wayne County since 2007
Synopsis of Inventory (06-12 vs. 06-11)
• All MLS on-market inventory declined by 16% from 32,372 in June 2011 to 27,191 in June 2012.
• Approximately 12.74% of the on-market inventory (3,464) is composed of properties identified as foreclosures.
If you have been thinking of selling or buying this Summer, please contact me for a confidential consultation at (248) 939-9393 or at Jeff@JeffDuneske.com