Real Estate Market Update for 48322 (West Bloomfield, MI)

Video: Real Estate Community Tour for 48322 (West Bloomfield, MI)

See Real estate community tour for 48322 (West Bloomfield, MI)
Welcome to April's Market Update. Let’s take a look at residential real-estate activity in your area during the month of March. The number of active listings was stable from one year earlier, and down 8% from the previous month. These latest figures mean that buyers had a more limited selection of homes to choose from compared to the previous month. As you can see, the median listing price for the month was just over 420-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 20%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 310-thousand dollars. The number of units sold was consistent year-over-year, and decreased 67% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 48322 (West Bloomfield, MI)
Area Information for 48322 (West Bloomfield, MI)
  • Population: 32,530
  • Median Age: 45.46 yr
  • Median Commute Time: 27 mins
  • Educational Climate*: 4
  • Sales Tax: 6%
  • Population Density: 2,767/sq mi
  • Population Change Since 2000: 8.12%
  • Closest Airport: Detroit Metropolitan Wayne County
  • Closest College: Michigan Sch Of Professional Psychology
  • Closest Jr. College: Oakland Comm Clg-orchard Ridge Campus
  • Median Household Income: $85,106
  • Annual Residential Turnover: 10%
  • Median Home Sales Price: $213,000
  • Closest Major Sports Team: Detroit Pistons
  • Change Avg. Household Income Since 2000: -3.15%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 48322 (West Bloomfield, MI)
Median Age: 45.46 Married: 47% Number of Households: 12,397 Households with Children: 3,647
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 48322 (West Bloomfield, MI)

      School Name Distance Type Grades School Rating Parent Rating
      Congregation B'nai Moshe School 1.0 mi Private K-9 0 0
      Orchard Lake Middle School 1.1 mi Public 6-8 4 3
      Frankel Jewish Academy Of Metro Detroit 1.1 mi Private 9-12 0 4
      Sarah And Irving Pitt Child Development Center 1.1 mi Private PRESCHOOL-K 0 0
      Adult Education 1.2 mi Public UNGRADE-UNGRADE 0 0
      Project Search 1.4 mi Public UNGRADE-UNGRADE 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2015. School Performance data by School Review data by
      Local Weather for 48322 (West Bloomfield, MI)
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.