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 8% from one year earlier, and down 14% 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 over 170-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 15%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 130-thousand dollars. The number of units sold decreased 15% year-over-year, and decreased 13% 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 Southfield, MI
Area Information for Southfield, MI
Population:75,353
Median Age:42.89 yr
Median Commute Time:24 mins
Educational Climate*:5
Sales Tax:0%
Population Density:2,867/sq mi
Population Change Since 2000:-3.76%
Closest Airport:Detroit Metropolitan Wayne County
Closest College:Lawrence Technilogical University
Closest Jr. College:Oakland Community Clg-southfield Cmps
Median Household Income:$55,829
Annual Residential Turnover:0%
Median Home Sales Price:$166,000
Closest Major Sports Team:Detroit Pistons
Change Avg. Household Income Since 2000:10.01%
* Scale from 1-5 ** Index where 100 is the national average
Demographic Data for Southfield, MI
Median Age: 42.89Married: 30%Number of Households: 33,615Households with Children: 6,638
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.