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Strongest May On Record For Area Home Sales

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FARMINGTON HILLS (WWJ) — The housing market in metro Detroit is now fully back.

The Farmington Hills-based real estate information provider Realcomp II Ltd. Monday reported the strongest May ever for home sales in the 10-county metro Detroit area.

Residential and condominium real estate sales for the month totaled 6,399, up 1.2 percent from 6,325 in May 2012.

Prices also continued their upward trend, with the median sale price jumping 35.8 percent from a year earlier to $110,000, from $81,000 a year earlier.

Peak price increases came in Sanilac County, up 46.3 percent, Macomb County, up 40 percent, and Wayne County excluding Detroit, up 36.7 percent.

The total number of homes on the market was 21,928, down 19.5 percent from 27,227 a year earlier. The average days on the market to sell a home tumbled by more than two weeks, to 69 days, down from 84 days a year earlier.

By county and sub-market, sales were as follows:

Detroit (also includes Hamtramck, Harper Woods and Highland Park): 297 foreclosure sales, down 15.1 percent from 350 a year earlier; 225 non-foreclosure sales, up 14.2 percent from 197 a year earlier; median sale price on foreclosure sales, $8,000, down 3 percent from $8,250 a year earlier; median sale price on non-foreclosure sales, $15,900, up 13.6 percent from $14,000 a year earlier

Dearborn and Dearborn Heights: 48 foreclosure sales, down 43.5 percent from 85 a year earlier; 165 non-foreclosure sales, up 11.5 percent from 148 a year earlier; median sale price on foreclosure sales, $51,550, up 35.7 percent from $38,000 a year earlier; median sale price on non-foreclosure sales, $80,000, up 29 percent from $62,000 a year earlier.

Genesee County: 181 foreclosure sales, down 13 percent from 208 a year earlier; 324 non-foreclosure sales, up 15.7 percent from 280 a year earlier; median sale price on foreclosure sales, $25,000, down 21.3 percent from $31,750 a year earlier; median sale price on non-foreclosure sales, $95,000, up 15 percent from $82,601 a year earlier.

Grosse Pointes (includes Grosse Pointe, Grosse Pointe Farms, Grosse Pointe Park, Grosse Pointe Shores, Grosse Pointe Woods and Lake Township): 4 foreclosure sales, down 73.3 percent from 15 a year earlier; 80 non-foreclosure sales, up 42.9 percent from 56 a year earlier; median sale price on foreclosure sales, $158,500, up 37.1 percent from $115,600 a year earlier; median sale price on non-foreclosure sales, $236,000, up 13.6 percent from $207,750 a year earlier.

Huron County: one foreclosure sale, down 66.7 percent from three a year earlier; 10 non-foreclosure sales, up 42.9 percent from seven a year earlier; median sale price on foreclosure sales, $75,000, up 130.6 percent from $32,525 a year earlier; median sale price on non-foreclosure sales, $81,500, down 22.4 percent from $105,000 a year earlier.

Lapeer County: 40 foreclosure sales, unchanged from 40 a year earlier; 54 non-foreclosure sales, up 8 percent from 50 a year earlier; median sale price on foreclosure sales, $81,274, up 25.5 percent from $64,750 a year earlier; median sale price on non-foreclosure sales, $125,950, up 20 percent from $105,000 a year earlier.

Livingston County: 48 foreclosure sales, down 35.1 percent from 74 a year earlier; 208 non-foreclosure sales, up 25.3 percent from 166 a year earlier; median sale price on foreclosure sales, $107,250, down 3.5 percent from $111,158 a year earlier; median sale price on non-foreclosure sales, $192,250, up 11.4 percent from $172,500 a year earlier.

Macomb County: 301 foreclosure sales, down 29.3 percent from 426 a year earlier; 814 non-foreclosure sales, up 26.4 percent from 644 a year earlier; median sale price on foreclosure sales, $55,501, up 18.1 percent from $47,000 a year earlier; median sale price on non-foreclosure sales, $130,500, up 43.4 percent from $91,000 a year earlier.

Oakland County: 355 foreclosure sales, down 34.1 percent from 539 a year earlier; 1,377 non-foreclosure sales, up 16.9 percent from 1,178 a year earlier; median sale price on foreclosure sales, $83,916, up 32.6 percetn from $63,298 a year earlier; median sale price on non-foreclosure sales, $190,000, up 8.3 percent from $175,500 a year earlier.

Sanilac County: Six foreclosure sales, down 53.8 percent from 13 a year earlier; four non-foreclosure sales, down 60 percent from 10 a year earlier; median sale price on foreclosure sales, $26,500, down 1.9 percent from $27,000 a year earlier; median sale price on non-foreclosure sales, $95,000, up 68.4 percent from $56,400 a year earlier.

St. Clair County: 45 foreclosure sales, down 11.8 percent from 51 a year earlier. 91 non-foreclosure sales, up 35.8 percent from 67 a year earlier. Median sale price on foreclosure sales, $42,000, down 11.9 percent from $47,700 a year earlier. Median sale price on non-foreclosure sales, $135,000, down 6.9 percent from $145,000 a year earlier.

Tuscola County: Seven foreclosure sales, down 56.3 percent from 16 a year earlier; 23 non-foreclosure sales, up 15 percent from 10 a year earlier; median sale price on foreclosure sales, $23,208, down 39.1 percent from $38,121 a year earlier; median sale price on non-foreclosure sales, $95,000, up 18.8 percent from $80,000 a year earlier.

Wayne County (excluding Detroit): 400 foreclosure sales, down 33.4 percent from 601 a year earlier; 1,094 non-foreclosure sales, up 23.1 percent from 889 a year earlier; median sale price on foreclosure sales, $43,500, up 16.6 percent from $37,300 a year earlier; median sale price on non-foreclosure sales, $110,000, up 22.2 percent from $90,000 a year earlier.

More at www.realcomp.com.

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