Home > Blogs > Michigan > Wayne County > Redford > Home Sales Rise & Prices Mixed in Redford, MI ( 4th Qtr. 2011 vs 4th Qtr. 2012)
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Michael Warren's Real Estate Blog

By Michael Warren | Broker in Novi, MI

Home Sales Rise & Prices Mixed in Redford, MI ( 4th Qtr. 2011 vs 4th Qtr. 2012)

The number of home sales rose and the median sale price was mixed in the 4th Quarter of. 2012 versus the 4th Quarter of 2011 in Redford, Michigan. For all sales (REO and Private) their was 19.5% rise in the number of sales, and a 3% increase in the median sale price. The percetange of REO sales decreased 3% with 49% of all sales being foreclosed properties. The breakdown for private sales saw the in the number of sales rose 25.2% and a decrease of 5.9% in the median sale price stayed unchanged compared to last year. Inventory of good houses is very low. Is it a good time to Sell? Contract me if you would like to know your homes current value.
Redford, MI Market Conditions
4th Qtr. 2011 versus 4th Qtr. 2012
ALL SALES 2011   2012  
Number of Sales 262 Number of Sales 313  
Median Sale Price $33,000   Median Sale Price $34,000    
Average Sale Price $37,473   Average Sale Price $40,620    
% of REO Sales 52%   % of REO Sales 49%    
Avg. Days on Market 81 Avg. Days on Market 66
PRIVATE SALES 2011   2012  
Number of Sales 127 Number of Sales 159  
Median Sale Price $42,500   Median Sale Price $40,000    
Average Sale Price $46,649   Average Sale Price $48,682    
Avg. Days on Market 114 Avg. Days on Market 89
REO SALES 2011   2012  
Number of Sales 135   Number of Sales 154  
Median Sale Price $26,800   Median Sale Price $30,500    
Average Sale Price $28,841   Average Sale Price $32,719    
Avg. Days on Market 50   Avg. Days on Market 43
 
Mike Warren, CDPE, SFR
Keller Williams Realty
www.StopForeclosureInMichigan.com
www.MikeWRealEstate.com
email: mikewarren@kw.com
Cell Phone: 734-634-5868
Information deemed reliable, based on information from the Board/Association of
REALTORS®  From the Realcomp II Ltd. MLS for the period Oct. 2011 - Dec. 2012.

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