Housing Prices Slowly Rising In Detroit Metro Area

DETROIT (WWJ) – Macomb County led metro Detroit in November home sales, showing a 16 percent increase compared to a year ago.

According to the listing service Realcomp: Wayne County was up almost 4 percent, Oakland rose 1.7 percent and Livingston County sales were up nearly 6 percent.

Michael DeForrest, a Realtor with Max Broock in Birmingham, tells WWJ that the market is slowly coming back but it’s all about price point.

“If you are a seller with a home in good condition and it’s at a good price point than the house is selling,” said DeForrest.

DeForrest says that sellers understand the market more – they take a big gulp (when hearing the price point) and say “let’s sell it.”

Realcomp says the median sale price in November rose 4.5 percent.


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Detroit

Best 4th Of July Concerts In Metro DetroitStaying home this weekend? Celebrate the 4th of July by rocking out at one of these shows.
Hump Day Drinks: 8 Cheery Cocktail RecipesNow that you've made it through half the work week, it's time to celebrate!

Watch & Listen