August 2008 Metro Detroit Home Sales Report

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Market Statistics

August 2008 Residential SALES Summary by Area/County
Area August, 2008 August, 2007 Percent Change
ALL MLS 5,535 4.956 11.7% Up
City of Detroit 960 697 37.7% Up
Livingston 156 193 17.2% Down
Macomb 697 609 14.4% Up
Oakland 1,365 1,301 4.9% Up
St. Clair Area 128 148 13.5% Down
Wayne 2,037 1,660 22.7% UP




I know all you hear is doom and gloom stories from the media saying that nothing is selling, but just take a look at the facts. This information will probably never make the front page of the news because lets face it, good news just does not sell newspapers.
  • INVENTORY FOR THE ENTIRE MLS IS DOWN 14% COMPARED TO LAST YR
  • NUMBER OF HOMES SOLD IS UP 11.7% COMPARED TO LAST YR
This is great news! As you can see we are heading in the right direction. Home sales in the Metropolitan Detroit real estate market are up for the entire MLS for the eighth straight month. In fact we are specifically up 11.7% over last year same period. There are a couple counties that are still dragging their feet and having a harder time recovering, and that is expected. Livingston County and the St. Clair area home sales are down compared to last year and what really surprised me was the city of Detroit leading the pack with home sales up over 37%. Investors are starting to pour in from all over the country picking up homes for pennies in the city of Detroit.

My sales team is having our best year ever with 74 homes SOLD this year. Every real estate agent is getting different results in this market based on what they are doing to get homes SOLD. Here is my pro-active marketing plan. If you feel like you need a different approach, I would love to sit down and show you exactly what I'm doing to get homes SOLD in this market. If your home has been for sale for a long time and it has not sold you can click here for the top 5 reasons your home did not sell.



The charts and information above are sourced from our local MLS called Realcomp.

Date: Tuesday, September, 16th 2008 @ 12:29:30 PM
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