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.