2015 was another very, very good year for Birmingham real estate. Our median sale price rose to $500,000. There were 29 single family home sales in Oakland County last year over $2,000,000 and 10 of those sales were in Birmingham. The most expensive home sold in Birmingham last year was a spectacular Quarton Lake front new construction on the corner of Lakeside and Harmon that sold for $3,260,849. If you’d like to take a peak inside these top Birmingham sold homes, this link to the multi-listing service will get you started on your virtual tour. The house at 620 Lakeside is where my childhood home stood from 1969-2008.
The yellow section of the chart above shows that we had a strong seasonal sales cycle once again in Birmingham. Buyers and sellers were most active between March and September, aligning their activity with better weather and school breaks. Of course plenty of transactions took place outside of those months, but the trend is there.
The next chart shows our 10 year trends. We’ve had an increasingly active real estate market every year since 2006. People want to live in Birmingham. The median sales price is at a 10 year high (green part of graphic) and we’ve more than made up for values lost during the recession.
It’s hard not to be optimistic about what’s in store for Birmingham in 2016.