Overall, we saw slower showing activity at the beginning of December than we are accustomed to, but we were pleasantly surprised to have lots of activity in the last week of the year. As a matter of fact, Dmitry is out showing one of our listings right now to some people who found us on the web. We are very optimistic about 2006 and we are positioning our sellers to give them every possible edge for a quick sale.
350 single family homes were sold in Birmingham during 2005. 93 of these were reported as $1 sales, so we do not include them in our statistics. Of the homes reported at $1, the highest priced home was offered at $3,9750,000, and it sold in less than two months.
For the 234 listings that sold in Birmingham in 2005:
Avg List Price $457,106.00
The Median Price $397,750.00
The Highest Price $2,400,000.00
The Lowest Price $119,000.00
The Average Market Time 70
As always, average market is higher than reported due to some listing techinques used by Realtors that result in lower than actual reporting of market time.
For comparision, during 2004, 328 single family homes were sold (this does not include $1 sales)
For the 328 listings:
Avg List Price $393,198.00
The Median Price $317,500.00
The Highest Price $1,450,000.00
The Lowest Price $130,000.00
The Average Market Time 57
Quick trends to take from this: there are less buyers looking, but values are holding there own, and market times are increasing with added competition.
If you are a buyer or a seller we would like to help you navigate the Birmingham, Michigan real estate market successfully. Please email us for more information or Call Maureen at 248.961.0801.
Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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