Welcome to March's Market Update. Lets take a look at residential real-estate activity in your area during the month of February. The number of active listings was up 3% from one year earlier, and down 7% 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 550-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 32%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was 450-thousand dollars. The number of units sold increased 15% year-over-year, and increased 64% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. 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.
Show Transcript
Map Information for Rochester, MI
Area Information for Rochester, MI
Population:12,854
Median Age:39.07 yr
Median Commute Time:27 mins
Educational Climate*:4
Sales Tax:0%
Population Density:3,360/sq mi
Population Change Since 2000:24.49%
Closest Airport:Detroit Metropolitan Wayne County
Closest College:Rochester College
Closest Jr. College:Oakland Cmnty College-auburn Hills
Median Household Income:$79,259
Annual Residential Turnover:0%
Median Home Sales Price:$333,750
Closest Major Sports Team:Detroit Pistons
Change Avg. Household Income Since 2000:33.71%
* Scale from 1-5 ** Index where 100 is the national average
Demographic Data for Rochester, MI
Median Age: 39.07Married: 45%Number of Households: 5,639Households with Children: 1,544
Community:
Occupancy Types
3599Vacant
8822Owned
12512Rented
Transportation to Work
43%Drive
47%Public Transportation
8%Walk / Bike / Other
8%Work at Home
National Index Comparisons:
(100 National Average)
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.