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Michigan Housing Market Improves in August
Michigan Housing Market Improves in August
Michigan Housing Market Improves in August
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October 9, 2012 (Chris Moore)

Monthly sales of existing single-family homes and condominiums came roaring back in Michigan during August and home prices improved on both a monthly and yearly basis according to the latest housing data from the Michigan Association of Realtors® (MAR).

An estimated total of 12,578 existing single-family homes and condos were sold in the Great Lakes State in August. That was 9.6 percent higher than the 11,477 homes sold in July and 10.7 percent higher than the 11,363 homes sold in August 2011. Home sales in Michigan had fallen for the previous two months, but only by a total of 445 sales.

The average sales price for an existing home in Michigan increased by 2.9 percent in August to $119,446, up from $116,116 in July, and was 5.3 percent higher than the median price of $113,412 in August of last year.

Of the 41 boards that provide data for the monthly report, twenty-nine reported gains in home sales or were unchanged over the previous year with Northeast Michigan (+65.5%), Monroe County (+38.5%), West Central (+33.3%), Lenawee County (+29.9%) and Emmet (+26.7%) reporting the largest increases.

Branch County (-46.3%), Down River (-30.5%), St. Joseph County (-24.3%), and Shiawassee (-20.3%) posted the largest declines in annual sales.

Oakland County recorded the most sales for the month with an estimated 2,002 home sales, up from 1,740 the previous month, while Greater Wayne County followed with an estimated 1,614 home sales for the month, up from 1,482 in July.

Year-over-year, thirty-nine boards posted an increase in their average prices led by Branch County (54.1%), Sanilac (+36.8), Antrim Charlevoix Kalkaska (+32.3%), Lenawee County (+28.0%), and Hillsdale County (+27.4%).

Emmet (-48.9%) and Tuscola County (9.3%) were the only two boards to post a loss in year-over-year average home prices.

Through the end of August, home sales in Michigan were 10.4 percent higher than they were at the same time last year.

Tags: Michigan real estate, existing homes, condos, sales, median home prices

Source:
MAR

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
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Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools
Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates
See today's mortgage rates. Shop, compare and save.

October 9, 2012 (Chris Moore)

Monthly sales of existing single-family homes and condominiums came roaring back in Michigan during August and home prices improved on both a monthly and yearly basis according to the latest housing data from the Michigan Association of Realtors® (MAR).

An estimated total of 12,578 existing single-family homes and condos were sold in the Great Lakes State in August. That was 9.6 percent higher than the 11,477 homes sold in July and 10.7 percent higher than the 11,363 homes sold in August 2011. Home sales in Michigan had fallen for the previous two months, but only by a total of 445 sales.

The average sales price for an existing home in Michigan increased by 2.9 percent in August to $119,446, up from $116,116 in July, and was 5.3 percent higher than the median price of $113,412 in August of last year.

Of the 41 boards that provide data for the monthly report, twenty-nine reported gains in home sales or were unchanged over the previous year with Northeast Michigan (+65.5%), Monroe County (+38.5%), West Central (+33.3%), Lenawee County (+29.9%) and Emmet (+26.7%) reporting the largest increases.

Branch County (-46.3%), Down River (-30.5%), St. Joseph County (-24.3%), and Shiawassee (-20.3%) posted the largest declines in annual sales.

Oakland County recorded the most sales for the month with an estimated 2,002 home sales, up from 1,740 the previous month, while Greater Wayne County followed with an estimated 1,614 home sales for the month, up from 1,482 in July.

Year-over-year, thirty-nine boards posted an increase in their average prices led by Branch County (54.1%), Sanilac (+36.8), Antrim Charlevoix Kalkaska (+32.3%), Lenawee County (+28.0%), and Hillsdale County (+27.4%).

Emmet (-48.9%) and Tuscola County (9.3%) were the only two boards to post a loss in year-over-year average home prices.

Through the end of August, home sales in Michigan were 10.4 percent higher than they were at the same time last year.

Tags: Michigan real estate, existing homes, condos, sales, median home prices

Source:
MAR

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

October 9, 2012 (Chris Moore)

Monthly sales of existing single-family homes and condominiums came roaring back in Michigan during August and home prices improved on both a monthly and yearly basis according to the latest housing data from the Michigan Association of Realtors® (MAR).

An estimated total of 12,578 existing single-family homes and condos were sold in the Great Lakes State in August. That was 9.6 percent higher than the 11,477 homes sold in July and 10.7 percent higher than the 11,363 homes sold in August 2011. Home sales in Michigan had fallen for the previous two months, but only by a total of 445 sales.

The average sales price for an existing home in Michigan increased by 2.9 percent in August to $119,446, up from $116,116 in July, and was 5.3 percent higher than the median price of $113,412 in August of last year.

Of the 41 boards that provide data for the monthly report, twenty-nine reported gains in home sales or were unchanged over the previous year with Northeast Michigan (+65.5%), Monroe County (+38.5%), West Central (+33.3%), Lenawee County (+29.9%) and Emmet (+26.7%) reporting the largest increases.

Branch County (-46.3%), Down River (-30.5%), St. Joseph County (-24.3%), and Shiawassee (-20.3%) posted the largest declines in annual sales.

Oakland County recorded the most sales for the month with an estimated 2,002 home sales, up from 1,740 the previous month, while Greater Wayne County followed with an estimated 1,614 home sales for the month, up from 1,482 in July.

Year-over-year, thirty-nine boards posted an increase in their average prices led by Branch County (54.1%), Sanilac (+36.8), Antrim Charlevoix Kalkaska (+32.3%), Lenawee County (+28.0%), and Hillsdale County (+27.4%).

Emmet (-48.9%) and Tuscola County (9.3%) were the only two boards to post a loss in year-over-year average home prices.

Through the end of August, home sales in Michigan were 10.4 percent higher than they were at the same time last year.

Tags: Michigan real estate, existing homes, condos, sales, median home prices

Source:
MAR

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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