Home Sales Up In Several Metro Detroit Communities

DETROIT (WWJ) – Home sales are up in metro Detroit.  Realcomp says about 500 more homes sold this July over last year in all but Wayne County.  CEO Kelly Sweeney of Caldwell Banker-Weir Manuel Realtors says homes are selling for more, too.

“Again, we are at the bottom, prices can only go up from here, I think for young people or anybody … the next 10-15 years it looks like a very positive appreciation for real estate,” said Sweeney.

“In certain markets now particularly south Oakland County, Birmingham, Bloomfield … the Woodward corridor, we are finding actual price appreciation, a shortage of inventory, very, very good buyer activity, and in many cases it’s multiple offers and it’s over asking (price),” said Sweeney.

homesales aug11 mike campbell Home Sales Up In Several Metro Detroit Communities

Home for sale. (WWJ: Mike Campbell)

Sweeney says median sale prices were up over $6,000 dollars over last year.

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