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Metro Detroit Home Sales Jump In October

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FARMINGTON HILLS — October was another month of solid recovery for the southeast Michigan housing market.

Figures from the Farmington Hills-based real estate information firm Realcomp II Ltd. showed 6,298 home sales in October, up 21.1 percent from 5,199 in October 2011. And the median sale price was also up sharply, to $89,000, up 22.8 percent from $72,500 a year earlier.

Foreclosure sales edged up 2.9 percent in the 10-county region, to 2,080 from 2,021 a year eaerlier. Non-foreclosure sales rose much more significantly, 32.7 percnet, to 4,218, from 3,178 last year. In addition, 755 of the total sales, or 12 percent, were identified as short ales.

The median sale price on foreclosure sales was $43,000, up 16.2 percent from $37,000 a year earlier. The median sale price on non-foreclosure sales was $123,000, up 11.8 percent from $110,000 a year earlier.

The average days on the market for all sales fell by 16 days from a year earlier, from 94 to 78. The number of homes on the market fell by 17 percent from 30,147 in October 2011 to 25,035 in October 2012.

By county, and the city of Detroit, here are the figures for October:

City of Detroit: 323 foreclosure sales, down 3.9 percnet from 336 a year earlier. 189 non-foreclosure sales, up 3.3 percent from 183 a year earlier. Median sale price on foreclosure sales, $8,700, up 7.9 percent from $8,060 a year earlier. Median sale price on non-foreclosure sales, $17,000, up 20.8 percent from $14,078 a year earlier.

Genesee County: 215 foreclosure sales, up 17.5 percent from 183 a year earlier. 317 non-foreclosure sales, up 37.2 percent from 231 a year earlier. Median sale price on foreclosure sales, $35,000, up 15.3 percent from $30,360 a year earlier. Median sale price on non-foreclosure sales, $85,000, up 4.9 percent from $81,000 a year earlier.

Huron County: One foreclosure sale, unchanged from a year earlier. 19 non-foreclosure sales, u p171.4 percent from seven a year earlier. Median sale price on foreclosure sales, $35,000, down 87.2 percent from $272,500 a year earlier. Median sale price on non-foreclsoure sales, $105,000, down 30.5 percent from $151,000 a year earlier.

Lapeer County: 43 foreclosure sales, up 10.3 percent from 39 a year earlier. 65 non-foreclosure sales, up 22.6 percent from 53 a year earlier. Median sale price on foreclosure sales, $60,000, down 20 percent from $75,000 a year earlier. Median sale price on non-foreclosure sales, $125,000, uup 10.6 percent from $113,000 a year earlier.

Livingston County: 62 foreclosure sales, down 6.1 percent from 66 a year earlier. 210 non-foreclosure sales, up 57.9 percetn from 133 a year earlier. Median sale price on foreclosure sales, $113,600, up 23.7 percnet from $91,800 a year earlier. Median sale price on non-foreclosure sales, $165,000, unchanged from a year earlier.

Macomb County: 345 foreclosure sales, up 6.5 percent from 324 a year earlier. 723 non-foreclosure sales, up 38.2 percent from 523 a year earlier. Median sale price on foreclosure sales, $52,899, up 20.9 percent from $43,750 a year earlier. Median sale price on non-foreclosure sales, $105,000, up 17.3 percent from $89,500 a year earlier.

Oakland County: 371 foreclosure sales, down 10.8 percent from 416 a year earlier. 1,242 non-foreclosure sales, up 22.5 percent from 1,014 a year earlier. Median sale price on foreclosure sales, $77,500, up 29.2 percent from $60,000 a year earlier. Median sale price on non-foreclosure sales, $160,000, up 10.3 percnet from $145,000 a year earlier.

Sanilac County: 10 foreclosure sales, up 233.3 percent from three a year earlier. Nine non-foreclosure sales, up 12.5 percent from eight a year earlier. Median sale price on foreclosure sales, $25,500, up 34.2 percnet from $19,000 a year earlier. Median sale price on non-foreclosure sales, $138,334, up 41.9 percnet from $97,500 a year earlier.

St. Clair County: 59 foreclosure sales, up 73.5 percent from 34 a year earlier. 100 non-foreclosure sales, up 66.7 percnet from 60 a year earlier. Median sale price on foreclosure sales, $46,500, up 4.3 percent from $44,600 a year earlier. Median sale price on non-foreclosure sales, $128,000, up 1.2 percent from $126,450 a year earlier.

Tuscola County: Nine foreclosure sales, down 10 percent from 10 a year earlier. 31 non-foreclosure sales, up 138.5 percent from 13 a year earlier. Median sale price on foreclosure sales, $22,500, down 7.5 percen from $24,327 a year earlier. Median sale price on non-foreclosure sales, $75,000, unchanged from a year earlier.

Wayne County (excluding Detroit): 509 foreclosure sales, up 7.8 percent from 472 a year earlier. 958 non-foreclosure sales, up 29.1 percent from 742 a year earlier. Median sale price on foreclosure sales, $40,101, up 9.1 percent from $36,750 a year earlier. Median sale price on non-foreclosure sales, $94,750, up 15.5 percent from $82,000 a year earlier.

More at www.realcomp.com or www.moveinmichigan.com.

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