Nir Ben Simon, Home Buyer in Oak Park, MI

hey, i saw that there is a dramatic decrease of houses sale at oak park compare to last year. am i right and what's the reason for this drop?

Asked by Nir Ben Simon, Oak Park, MI Sat May 26, 2012

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Answers

2
There is just simply less houses on the market to purchase due to low inventory of available homes.

If you have any further questions please let me know.

Thanks,

Joe Bertera
248.521.6443
0 votes Thank Flag Link Tue May 29, 2012
Hi

The number of sales, median and average sales price has decreased in Oak Park.

Jan-Apr 2011 (all sales) Jan-Apr 2012 (all sales)
# of sales = 142 # of sales = 130
Median Price = $39,000 Median Price = $31,750
Avg. Price = $43,230 Avg. Price = $35,750

Jan-Apr 2011 (only priv. sales) Jan-Apr 2012 (only priv. sales)
# of sales = 65 # of sales = 47
Median Price = $45,000 Median Price = $43,500
Avg. Price = $52,226 Avg. Price = $46,972

There has been a slight drop in the median price of private sales.
A majority of the decrease in overall sales (median price) can be contributed to REO properties.

Sincerely,

Mike Warren
Keller Williams Realty
734-634-5868
http://www.MikeWRealEstate.com
http://www.StopForeclosureInMichigan.com
0 votes Thank Flag Link Sat May 26, 2012
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