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Realcomp: Residential Real Estate Sales Down But Prices Up

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The number of residential real estate sales went down but prices went up in September, according to figures released last week by the Farmington Hills real estate data and systems provider Realcomp II Ltd.

The number of sales in the entire 10-county area tracked by Relacomp was 5,222 in September, down 16.2 percent from 6.232 in September 2009.

However, almost all of the decrease was due to a sharp decline in foreclosure sales, which tumbled 31.2 percent in the region to 2,095 from 3,045 a year earlier. Non-foreclosure sales fell only 1.9 percent to 3,127 from 3,187 a year earlier.

Inventory on the market is also down, a sign of a stabilizing market — 37,665 homes in September 2010, down from 45,706 in September 2009. And the average number of days a home stayed on the market before selling decreased by nine days year over year to 94.

Realcomp also noted that September 2009 sales were at the highest level since 2005.

By county and city, the results were as follows:

Detroit: 360 foreclosure sales, down 45.8 percent from 664 foreclosure sales a year earlier. 168 non-foreclosure sales, up 7 percent from 157 a year earlier. Median sale price on foreclosure sales, $9,000, up 28.6 percnet from $7,000 a year earlier. Median sale price on non-foreclosure sales, $16,350, up 5.5 percent from $15,500 a year earlier.

Genesee County: 54 foreclsoure sales, down 20.6 percent from 68 a year earlier. 349 non-foreclosure sales, down 17.5 percent from 423 a year earlier. Median sale price on foreclosure sales, $42,500, down 9.5 percent from $46,950 a year earlier. Median sale price on non-forelcosure sales, $52,000, down 1.7 percent from $52,900 a year earlier.
 
Huron County: zero foreclosure sales, down from one a year earlier. Four non-foreclosure sales, down 20 percent from five a year earlier. Median price on foreclosure sales, n/a, down from $137,600 a year earlier. Median sale price on non-foreclosure sales, $104,500, up 248.3 percent from $30,000 a year earlier.

Lapeer County: 45 foreclosure sales, down 10 percent from 50 a year earlier. 36 non-foreclosure sales, down 18.2 percent from 44 a year earlier. Median sale price on foreclosure sales, $51,000, down 14.6 percent from $59,700 a year earlier. Median sale price on non-foreclosure sales, $115,000, up 27.8 percent from $89,950 a year earlier.

Livingston County: 75 foreclosure sales, down 3.8 percnet from 78 a year earlier. 134 non-foreclosure sales, down 0.7 percent from 135 a year earlier. Median sale price on foreclosure sales, $86,000, down 18.1 percent from $105,000 a year earlier. Median sale price on non-foreclosure sales, $155,750, down 9.2 percdent from $171,490 a year earlier.

Macomb County: 350 foreclosure sales, down 24.6 percent from 464 a year earlier. 440 non-foreclosure sales, down 2.7 percent from 452 a year earlier. Median sale price on foreclosure sales, $38,000, down 17.4 percent from $46,025 a year earlier. Median sale price on non-foreclosure sales, $95,000, down 17.2 percent from $114,700 a year earlier.

Oakland County 523 foreclosure sales, down 31.6 percent from 765 a year earlier. 924 non-foreclosure sales, up 9.1 percent from 847 a year earlier. Median sale price on foreclosure sales, $60,000, up 1.7 percent from $59,000 a year earlier. Median sale price on non-foreclosure sales, $148,000, down 1 percent from $149,450 a year earlier.

Sanilac County: Two foreclosure sales, down 81.8 percent from 11 a year earlier. Six non-foreclosure sales, down 40 percent from 10 a year earlier. Median sale price on foreclosure sales, $29,950, down 19.1 percent from $37,000 a year earlier. Median sale price on non-foreclosure sales, $64,000, down 3.7 percent from $66,450 a year earlier.

St. Clair County: 28 foreclosure sales, down 64.1 percent from 78 a year earlier. 70 non-foreclosure sales, down 11.4 percent from 79 a year earlier. Median sale price on foreclosure sales, $43,500, up 6.3 percent from $40,930 a year earlier. Median sale price on non-foreclosure sales, $98,000, down 18.3 percent from $120,000 a year earlier.

Tuscola County: Six foreclosure sales, down 60 percent from 15 a year earlier. 20 non-foreclosure sales, up 25 percent from 16 a year earlier. Median sale price on foreclosure sales, $43,522, up 11.6 percent from $39,000 a year earlier. Median sale price on non-foreclosure sales, $64,800, up 11.7 percent from $58,000 a year earlier.

Wayne County, except Detroit: 569 foreclosure sales, down 26.2 percent from 771 a year earlier. 712 non-foreclosure sales, up 1.9 percent from 699 a year earlier. Median sale price on foreclosure sales, $37,000, up 12.1 percent from $33,000 a year earlier. Median sale price on non-foreclosure sales, $82,000, down 18 percent from $100,000 a year earlier.

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