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Real Estate Sales, Prices Up Across Southeast Michigan

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FARMINGTON HILLS — Real estate sales and prices both rose across metro Detroit in June, according to the Farmington Hills real estate information provider Realcomp II Ltd. Sales in the region as a whole were 6,491 homes and condos in June, up 5.3 percent from 6,163 a year earlier.

The region’s median sale price also advanced, by 21.4 percent, to $85,000 from $70,000 a year earlier. The median sales price is the highest in Oakland County since 2008 and the highest for Wayne County since 2007.

Homes appear to be selling more quickly as well, with the average number of days on the market for homes declining to 81 days from 90 days a year earlier.

By individual market, the sales were as follows:

City of Detroit: 414 foreclosure sales, down 5 percent from 436 a year earlier. 189 non-foreclosure sales, down 13.7 percent from 219 a year earlier. Median sale price on foreclosure sales, $8,025, up 7 percent from $7,500 a year earlier. Median sale price on non-foreclosure sales, $13,000, unchanged from a year earlier.

Genesee County: 252 foreclosure sales, up 28.6 percent from 196 a year earlier. 265 non-foreclosure sales, up 10 percent from 241 a year earlier. Median sale price on foreclosure sales, $25,287, down 2.3 percent from $25,893 a year earlier. Median sale price on non-foreclosure sales, $99,000, up 17.2 percen from $84,450 a year earlier.

Huron County: One foreclosure sale, down 50 percent from two a year earlier. 17 non-foreclosure sales, up 112.5 percent from eight a year earlier. Median sale price on foreclosure sales, $18,000, down 75.6 percnet from $73,750 a year earlier. Median sale price on non-foreclosure sales, $85,000, up 85.8 percent from $45,750 a year earlier.

Lapeer County: 38 foreclosure sales, down 7.3 percent from 41 a year earlier. 42 non-foreclosure sales, down 4.5 percent from 44 a year earlier. Median sale price on foreclosure sales, $55,250, down 16.5 percent from $66,199 a year earlier. Median sale price on non-foreclosure sales, $130,000, up 6.1 percetn from $122,500 a year earlier.

Livingston County: 60 foreclosure sales, down 15.5 percent from 71 a year earlier. 193 non-foreclosure sales, up 22.9 percent from 157 a year earlier. Median sale price on foreclosure sales, $95,950, down 6.2 percetn from $102,334 a year earlier. Median sale price on non-foreclosure sales, $175,000, up 3.6 percent from $169,000 a year earlier.

Macomb County: 410 foreclosure sales, up 0.5 percent from 408 a year earlier. 674 foreclosure sales, up 21.4 percent from 555 a year earlier. Median sale price on foreclosure sales, $50,000, up 19.8 percent from $41,750 a year earlier. Median sale price on non-foreclosure sales, $108,125, up 18.8 percent from $91,000 a year earlier.

Oakland County: 475 foreclosure sales, down 10.9 percent from 533 a year earlier. 1,218 non-foreclosure sales, up 6.2 percent from 1,147 a year earlier. Median sale price on foreclosure sales, $65,000, up 19.9 percent from $54,200 a year earlier. Median sale price on non-foreclosure sales, $$172,500, up 16.4 percent from $148,250 a year earlier.

Sanilac County: 11 foreclosure sales, up 83.3 percent from six a year earlier. Five non-foreclosure sales, down 16.7 percent from six a year earlier. Median sale price on foreclosure sales, $25,000, up 6.4 percent from $23,500 a year earlier. Median sale price on non-foreclosure sales, $144,000, up 9 percent from $132,150 a year earlier.

St. Clair County: 51 foreclosure sales, up 18.6 percent from 43 a year earlier. 82 non-foreclosure sales, up 26.2 percent from 65 a year earlier. Median sale price on foreclosure sales, $46,000, up 33.3 percent from $34,500 a year earlier. Median sale price on non-foreclosure sales, $115,000, down 3.4 percent from $119,000 a year earlier.

Tuscola County: 11 foreclosure sales, up 83.3 percent from six a year earlier. Six non-foreclosure sales, down 53.8 percent from 13 a year earlier. Median sale price on foreclosure sales, $23,900, down 10 percent from $26,550 a year earlier. Median sale price on non-foreclosure sales, $51,750, down 47.5 percent from $98,500 a year earlier.

Wayne County (excluding Detroit): 589 foreclosure sales, down 4.1 percent from 614 a year earlier. 930 non-foreclosure sales, up 11.5 percent from 834 a year earlier. Median sale price on foreclosure sales, $37,500, up 7.6 percent from $34,854 a year earlier. Median sale price on non-foreclosure sales, $97,750, up 19.7 percent from $80,000 a year earlier.

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