Video: Real Estate Community Tour for West Bloomfield, MI
See Real estate community tour for West Bloomfield, MI
Welcome to December's Market Update. Let’s take a look at residential real-estate activity in your area during the month of November. The number of active listings was up 77% from one year earlier, and down 21% 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 410-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 16%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 260-thousand dollars. The number of units sold increased more than 500% year-over-year, and decreased 15% 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.