Housing market figures for Oakland County in September reflect a decrease in sales activity compared to September 2006: sales and sales volume were down eight percent and 18 percent, respectively.
Among the municipalities experiencing positive sales activity in the year-to-year comparison (with a minimum of 15 sales) were:
- Commerce Township, which hit the trifecta: up 23 percent in sales, 28 percent in sales volume and 18 percent in median sale price;
- Rochester, up 78 percent in sales and 107 percent in sales volume;
- Oak Park, up 58 percent in sales and 36 percent in sales volume; and
- Highland Township, up 55 percent in sales and 17 percent in sales volume.
Municipalities that saw marked decreases included Royal Oak (sales down 27 percent), Rochester Hills (sales down 25 percent) and Novi (sales down 25 percent).
And while 2007’s third quarter reflects a drop in sales volume and median sale price year-to-year, the drop doesn’t approach the disparity between third quarter 2006 and third quarter 2005. In those figures, the third quarter of 2006 experienced a 30 percent decrease in sales and a 34 percent decrease in sales volume compared with third quarter 2005. And while sales were falling, listings increased 18 percent.
Meanwhile, year-to-year third quarter figures for Oakland County reflect a six percent decrease in listings (the only negative here that’s a positive) and a small (one percent) increase in sales alongside a six percent decrease in sales volume.
Municipalities that experienced positive sales numbers for the third quarter (with a minimum of 25 sales) include:
- Independence Township (up 102 percent)
- Orion Township (up 62 percent)
- Davisburg/Springfield Township (up 37 percent)
- Highland Township (up 28 percent)
- Commerce Township (up 21 percent)
- Bloomfield Township (up 10 percent)
Learn more here:
- Oakland County September 2007 stats (PDF file)
- Oakland County Third Quarter 2007 stats (PDF file)
Note that third quarter median sale price figures are calculated by averaging the median sale price of each month. Though an imperfect approach, we consider it the best way to efficiently provide a snapshot of activity during the period in question. That said, some of the municipalities had a month or two where no sales occurred. Therefore, instead of averaging three months of information, we averaged two months or carried over one month’s figure, the only information we had available. Those municipalities are as follows: Bingham Farms Village (no July ’07); Clarkston (no July ’07 or Sept. ‘06); Fenton (no figures for any month in either year); Holly Township (no July ’06); Holly Village (no July ’07); Lake Angelus (no figures for any month in either year); Leonard Village (no figures for any month in ’07 or for July and Aug. of ’06); Novi Township (no August or Sept. ’07, no August ’06); Orchard Lake Village (no September ’06); Ortonville Village (no July or September ’07, no August ’06); Royal Oak Township (no July or August ’07); Southfield Township (no figures for any month in either year).
Reprinted from MCAR
[tags]oakland county real estate, michigan real estate, metro detroit, bloomfield hills, beverly hills mi, royal oak, birmingham mi[/tags]
Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
Visit Website
Search for homes in Oakland County
{ 0 comments… add one now }