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 December's Market Update. Lets take a look at residential real-estate activity in your area during the month of November. The number of active listings was down 44% from one year earlier, and down 27% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. 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 19%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 150-thousand dollars. The number of units sold decreased 3% year-over-year, and decreased 15% 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: 74,835
  • Median Age: 42.6 yr
  • Median Commute Time: 24 mins
  • Educational Climate*: 5
  • Sales Tax: 6%
  • Population Density: 2,848/sq mi
  • Population Change Since 2000: -4.42%
  • Closest Airport: Detroit Metropolitan Wayne County
  • Closest College: Lawrence Technilogical University
  • Closest Jr. College: Oakland Community Clg-southfield Cmps
  • Median Household Income: $49,721
  • Annual Residential Turnover: 18%
  • Median Home Sales Price: $105,000
  • Closest Major Sports Team: Detroit Pistons
  • Change Avg. Household Income Since 2000: 1.3%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Southfield, MI
Median Age: 42.6 Married: 32% Number of Households: 33,379 Households with Children: 7,749
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
      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-8 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
      University High School Academy 1.9 mi Public 8-12 4 4
      Macarthur K-8 University Academy 1.9 mi Public 2-8 2 0
      International Montessori Academy 2.1 mi Private PRESCHOOL-2 0 0
      Southfield Regional Academic Campus 2.2 mi Public 9-12 0 4
      Aspire Leadership Academy 2.2 mi Public 8-8 0 0
      Glenn W. Levey Middle School 2.3 mi Public 6-8 1 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
      Yeshiva Beth Yehudah School Pk-8 2.7 mi Private K-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.