This just in from MCAR, our board of Realtors.
Sales figures for March cooled off a little from the previous two months. In February, for example, sales in Oakland County were up seven percent year-to-year. For March, sales dipped four percent. One likely culprit: the fourth snowiest March since 1880. And home buyers that may have been more active in the February-March timeframe might have accelerated their buying schedule to take advantage of zero-down mortgages before banks largely stopped offering the option in January.
Oakland municipalities* experiencing year-to-year increases in March sales included:
- White Lake Township, up 35 percent
- Southfield, up 31 percent
- Birmingham, up 29 percent
Last month, it was Birmingham that posted across-the-board positives. This month, it’s White Lake Township: sales volume was up 68 percent and the median sale price jumped 64 percent, while listings decreased nine percent.
Oakland municipalities that experienced sales drops include Rochester Hills (down 42 percent), Commerce Township (down 23 percent) and West Bloomfield Township (down 17 percent).
And Oakland County listings declined 14 percent from March 2007, following a decline of four percent in February and a modest 0.5 increase in January.
For the complete report, follow this link.
Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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