Clarkston MI Home Sales Are Up- AGAIN!!
2011 home sales in Clarkston MI were up in units, average sales price and total dollar volume from 2010. And 2010 was better than 2009. Is this a trend? Will 2012 be a better year than 2011? If you were waiting until the market hit rock bottom to buy, you may want to consider hopping off that fence. Inventory is low and you need to be ready when “that” house hits the market. Interest rates are also low. The annual average interest rate on a 30 year fixed mortgage was 4.45% paying .7 of a point. Almost a percent and a half lower than the hey days of 2003-2004-2005.
Some interesting facts:
- 419 closed sales in 2011
- 416 closed sales in 2010
- 353 closed sales in 2009
That’s 16% increase in unit sales from 2009.
Average Sales Price:
- 2011- $193,935
- 2010- $188,712
- 2009- $176,611
The average sales price in 2011 was 2.7% higher than in 2010 and 8.9% from 2009.
Part of this is due to the decline in distressed sales. In 2011 foreclosure sales made up 32% of the total sales. In 2010 they made up 37% of the total sales. Short sales made up a total of 18% of the total sales in 2011 and 22% of the total sales in 2010. In short- distressed sales were just under 60% in 2010 and just under 50% in 2011.
Total Dollar Volume:
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2011- $81,258,650
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2010- $78,504,030
-
2009- $62,343,820
That’s a 3.4% increase in total dollars from 2010 and a 23% increase from 2009.
Cash sales made up 19% of all total sales in 2011, 32% of bank owned sales, 18% of short sales, 11% of regular or non-distressed sales.
Houses in general sold within 4% of asking price on average. Bank owned homes sold within 1% of asking price and short sales sold within 3 1/2% of asking price.
Jackie Hawley Keller Williams Realty, Clarkston MI
Cell: (248) 736-6407
