22% of homes listed for sale in Michigan are short sales
Overall, short sales that closed in April were up 2.1% from 678 (of 2010) to 692 (of 2011).
Median sales price down in every county except Lapeer County (Up 14.9%) and Livingston County (Up 8.5%).
The average days on market (DOM) for the entire MLS decreased over the last year by 9 days, from 99 to 90 days.
Synopis of Inventory (April of 2011 vs. April 2010)
All MLS on-market inventory was at 32,910 units - 4,465 or 13.5% of these are foreclosures and 28,445 or 86.5% of these are NON-foreclosures.
Inventory continues to decline as compared to 38,394 last year in April of 2010.
Out of the total on-market inventory, 7,246 or 22% of them have been identified as short sales.…