Real Estate Market Update for Southfield, MI

Video: Real Estate Community Tour for Southfield, MI

See Real estate community tour for Southfield, MI
Welcome to November's Market Update. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was up 74% from one year earlier, and down 10% from the previous month. Even so, buyers still enjoyed a greater selection of homes today than they did one year ago. As you can see, the median listing price for the month was just under 130-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 51%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 140-thousand dollars. The number of units sold increased more than 1500% year-over-year, and decreased 16% month-over-month. Higher year-over-year figures indicate that more buyers have been finding what they're looking for. 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 Southfield, MI
Area Information for Southfield, MI
  • Population: 73,730
  • Median Age: 42.55 yr
  • Median Commute Time: 24 mins
  • Educational Climate*: 5
  • Sales Tax: 6%
  • Population Density: 2,806/sq mi
  • Population Change Since 2000: -5.83%
  • Closest Airport: Detroit Metropolitan Wayne County
  • Closest College: Lawrence Technilogical University
  • Closest Jr. College: Oakland Community Clg-southfield Cmps
  • Median Household Income: $50,540
  • Annual Residential Turnover: 19%
  • Median Home Sales Price: $105,950
  • Closest Major Sports Team: Detroit Pistons
  • Change Avg. Household Income Since 2000: 1.4%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Southfield, MI
Median Age: 42.55 Married: 32% Number of Households: 32,815 Households with Children: 7,902
Community:
    • 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 Southfield, MI

      School Name Distance Type Grades School Rating Parent Rating
      Crescent Academy Elementary 0.6 mi Public 1-5 0 0
      University High School Preparatory Academy 0.6 mi Public 8-12 5 0
      University High School Academy 0.6 mi Public 8-12 4 4
      Southfield High School 0.7 mi Public 9-12 1 3
      Laurus Academy 0.7 mi Public K-8 3 0
      Adlai Stevenson Elementary School 0.9 mi Public K-5 1 0
      Alice M. Birney K-8 School 1.1 mi Public K-8 1 0
      Children's Technological Academy 1.2 mi Private K-6 0 0
      Southfield Christian School 1.3 mi Private PRESCHOOL-12 0 0
      Morris Adler Elementary School 1.3 mi Public K-5 1 0
      Mcintyre Elementary School 1.5 mi Public K-5 2 0
      Yeshivas Darchei Torah 1.5 mi Private PRESCHOOL-12 0 0
      Akiva Hebrew Day School 1.6 mi Private PRESCHOOL-12 0 0
      Taylor International Academy 1.6 mi Public PRESCHOOL-8 1 0
      Bradford Academy 1.7 mi Public PRESCHOOL-12 0 0
      Early Impressions 1.8 mi Private PRESCHOOL-1 0 0
      Southfield-lathrup High School 1.9 mi Public 9-12 1 3
      Brace-lederle K-8 School 2.1 mi Public K-8 1 5
      Aspire Leadership Academy 2.2 mi Public 8-8 0 0
      Southfield Regional Academic Campus 2.2 mi Public 9-12 0 4
      Glenn W. Levey Middle School 2.3 mi Public 6-8 1 0
      International Montessori Academy 2.4 mi Private PRESCHOOL-2 0 0
      Crescent Academy - Middle 2.5 mi Public 5-8 0 0
      Crescent Academy - High School 2.5 mi Public 9-12 0 0
      Thompson K-8 International Baccalaureate Academy 2.6 mi Public K-8 1 0
      Macarthur K-8 University Academy 2.6 mi Public K-8 2 0
      Yeshiva Beth Yehudah School Pk-8 2.7 mi Private 1-8 0 0
      Agbu Alex-marie Manoogian School 2.7 mi Public K-12 4 0
      Vandenberg Elementary School 3.1 mi Public K-5 1 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 © 2016. School Performance data by SchoolDigger.com. School Review data by Niche.com.
      Local Weather for Southfield, MI
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 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.