Oakland County Home Sales UP in July

Work has gotten in the way of me updating this blog recently. We have been selling houses. I should yell that because there seems to be a rumor circling about in metro Detroit that homes are not selling. So let me repeat: Dmitry and Maureen are selling houses.

In the last few weeks we have had a number of homes receive offers that were accepted. In a few cases there was more than one interested party. Admittedly, it has been a while since sellers enjoyed multiple offers, but I know of at least 3 homes that could have had had them within a 5 day span. I think that is pretty good news, myself.

We are having a great August. Official stats show that July was not a bad month, in fact it was good.

From Metropolitan Consolidated Association of Realtors:

In July, the Oakland County housing market experienced its best figures since unseasonably warm weather boosted February’s numbers.

Year-to-year numbers for the month show a decrease in listings and an increase in sales and sales volume. Median sale prices were mixed, with municipalities such as Birmingham and Novi up (43 percent and 41 percent, respectively) and others such as Pontiac and Madison Heights down (52 percent and 29 percent, respectively).

“We want to be optimistic and think that the July figures – lower listings and higher sales – indicate a stabilization point in the marketplace,” said MCAR CEO Walt Baczkowski. “But one month doesn’t equal a trend. Plus, many ARMs and other creative financing options taken out in 2005 will reach their first adjustment period through 2007 and 2008, which could mean more challenges ahead for home owners and the market.”

Price it right, market it well, and your chances of getting an offer seem to be getting better!

Photo courtesy of proscilas

[tags]birmingham mi real estate, oakland county real estate, july 2007 michigan real estate market[/tags]

Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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