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Home Sales Start 2013 With Double Digit Gains, Higher Prices

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FARMINGTON HILLS — Residential real estate sales across the 10-county metro Detroit region were up 9.4 percent in January from a year earlier, according to figures released by the Farmington Hills-based real estate information firm Realcomp II Ltd.

Total sales for the month were 4,855 homes and condos, up from 4,439 a year earlier.

The median sale price was $80,091, up 27.1 percent from $63,000 a year earlier. Above-average price increases were noted in Lapeer County (up 65 percent), St. Clair County (up 44 percent), Oakland County (up 32 percent), Wayne County (up 28.6 percent) and the Dearborn-Dearborn Heights area (up 27.8 percent).

Average days on the market for the entire system fell by eight days over the year, from 89 days a year ago to 81 days this month. And the on-market inventory tumbled 21.8 percent, from 27,389 to 21,423.

By county and submarket, sales were as follows:

City of Detroit: 292 foreclosure sales, up 9.4 percent from a year earlier. 186 non-foreclosure sales, up 14.8 percent from 162 a year earlier. Median sale price on foreclosure sales, $8,300, up 3.8 percent from $8,000 a year earlier. Median sale price on non-foreclosure sales, $14,450, up 34.4 percent from $10,750 a year earlier.

Dearborn: 44 foreclosure sales, down 29 percent from 62 a year earlier. 105 non-foreclosure sales, up 6.1 percent from 99 a year earlier. Median sale price on foreclosure sales, $40,000, down 1.2 percent from $40,500 a year earlier. Median sale price on non-foreclosure sales, $70,000, up 18.6 percent from $59,000 a year earlier.

Genesee County: 192 foreclosure sales, down 3 percent from 198 a year earlier. 211 non-foreclosure sales, up 14.1 percent from 185 a year earlier. Median sale price on foreclosure sales, $28,000, up 11.7 percetn from $25,058 a year earlier. Median sale price on non-foreclosure sales, $82,250, up 5.4 percent from $78,000 a year earlier.

Grosse Pointe: Nine foreclosure sales, down 40 percent from 15 a year earlier. 37 non-foreclosure sales, up 48 percent from 25 a year earlier. Median sale price on foreclosure sales, $104,900, up 4.9 percent from $100,000 a year earlier. Median sale price on non-foreclosure sales, $170,000, up 13.3 percent from $150,000 a year earlier.

Huron County: Two foreclosure sales, unchanged from a year earlier. Four non-foreclosure sales, down 33 percent from six a year earlier. Median sale price on foreclosure sales, $14,275, down 67.6 percent from $44,000 a year earlier. Median sale price on non-foreclosure sales, $132,250, up 121.1 percent from $59,813 a year earlier.

Lapeer County: 36 foreclosure sales, up 9.1 percent from 33 a year earlier. 40 non-foreclosure sales, up 25 percent from  32 a year earlier. Median sale price on foreclosure sales, $63,617, up 27.2 percent from $50,000 a year earlier. Median sale price on non-foreclosure sales, $149,500, up 40.8 percent from $106,200 a year earlier.

Livingston County: 59 foreclosure sales, down 1.7 percent from 60 a year earlier. 144 non-foreclosure sales, up 48.5 percent from 97 a year earlier. Median sale price on foreclosure sales, $117,097, up 13 percent from $103,600 a year earlier. Median sale price on non-foreclosure sales, $161,000, down 10.6 percent from $180,000 a year earlier.

Macomb County: 286 foreclosure sales, down 18.3 percent from 350 a year earlier. 549 non-foreclosure sales, up 22 percent from 450 a year earlier. Median sale price on foreclosure sales, $57,000, up 42.3 percent from $40,050 a year earlier. Median sale price on non-foreclosure sales, $100,000, up 1.6 percent from $98,450 a year earlier.

Oakland County: 368 foreclosure sales, down 12.6 percent from 421 a year earlier. 888 non-foreclosure sales, up 29.8 percent from 684 a year earlier. Median sale price on foreclosure sales, $70,000, up 40 percent from $50,000 a year earlier. Median sale price on non-foreclosure sales, $160,000, up 14.3 percent from $140,000 a year earlier.

Sanilac County: Nine foreclosure sales, up 125 percent from four a year earlier. Seven non-foreclosure sales, up 40 percent from five a year earlier. Median sale price on foreclosure sales, $24,000, down 24.5 percent from $31,775 a year earlier. Median sale price on non-foreclosure sales, $79,000, up 24.4 percent from $63,500 a year earlier.

St. Clair County: 37 foreclosure sales, down 26 percent from 50 a year earlier. 64 non-foreclosure sales, up 39.1 percent from 46 a year earlier. Median sale price on foreclosure sales, $42,500, up 43.1 percent from $29,700 a year earlier. Median sale price on non-foreclosure sales, $119,450, up 37.7 percent from $86,750 a year earlier.

Tuscola County: Five foreclosure sales, down 58.3 percent from 12 a year earlier. 12 non-foreclosure sales, up 33.3 percent from nine a year earlier. Median sale price on foreclosure sales, $22,400, down 33.6 percetn from $33,750 a year earlier. Median sale price on non-foreclosure sales, $57,500, down 4.2 percent from $60,000 a year earlier.

Wayne County (excluding Detroit): 420 foreclosure sales, down 18.3 percent from 514 a year earlier. 722 non-foreclosure sales, up 35 percent from 535 a year earlier. Median sale price on foreclosure sales, $40,399, up 15.4 percent from $35,000 a year earlier. Median sale price on non-foreclosure sales, $87,000, up 17.6 percent from $74,000 a year earlier.

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