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Posts Tagged ‘clarkston mi market conditions’

Clarkston MI Home Sales Up- AGAIN!! Can we stop calling this a declining market?

I’ve been hearing on the news lately how foreclosure filings are up in the Detroit area. I wish the media would separate Oakland County from the Detroit area. What exactly is the “Detroit Area” anyway? When listening to the news it seems to range from anywhere in Southeast Michigan to all of Michigan. Sometimes I think they just make stuff up.

The “true” housing stats are as follows- at least for the Clarkston area.

Sales are up from last year. Sales are up from 2010 and 2009.

The first quarter sales for the “Clarkston area” which I define by searching the MLS for Clarkston schools with sales over $10,000 to weed out the lease sales are as follows:

2012: 129 units sold 2011: 101 units sold 2010: 106 units sold 2009: 65 units sold

The average sales price in 2012 was $180,975 The average sales price in 2011 was $178,612 The average sales price in 2010 was $170,918 The average sales price in 2009 was $164,820

The amount of bank owned sales and short sales were about the same each year but considering the total unit sales have been up, the per cent of distressed sales are down. The average sales price for the distressed sales are also down.

In 2012 bank owned sales made up 33% of the total sales and short sales made up 16% of the total sales. In 2011 bank owned sales made up 47% of the total sales and short sales made up 23% of the total sales.

The average sales price of the bank owned sale in 2012 was down to $97,745 opposed to $134,139 in 2011.

As of yesterday (May 1) there were only 164 active listings in the Clarkston school district. On Jan 5, 2009 there were 359 active listings in the Clarkston school district.

So basically unit sales are up 22% from last year and up 50% from 2009. The average sales price is up 1.3% from last year and up 9% from 2009. Distressed sales are down from last year and there is a huge shortage of homes for sale. Cash sales made up 23% of the total sales in the first quarter of 2012 and 9% of non-distressed sales were cash sales.

Thinking of selling? This is a great time- we have buyers and no houses to sell them. I’ve been showing a LOT of crap. Just because the inventory is low does NOT mean you can ask any price. Properly priced homes sell quickly – the trick is to price in a manner that you can get top dollar for this market and still sell quickly.

If you are thinking of buying a home in the Clarkston area, please don’t hesitate to call. If the right house isn’t for sale now you should be in a position to pounce when it does hit the market.

 Buying your Clarkston MI Home

Financing

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Jackie Hawley
Keller Williams Realty
Jackie@JackieHawley.com
Cell: 248-736-6407
www.MiRelocation.com

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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:

  • 2011- $81,258,650
  • 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.

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Clarkston MI Homes For Sale

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Financing

Choosing a Buyer’s Agent

Jackie Hawley Keller Williams Realty, Clarkston MI

Jackie@JackieHawley.com

Cell: (248) 736-6407

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Most of my posts about Clarkston MI have been about the Village of Clarkston and Independence Township. To get the stats for this post I used Clarkston school district for my search criteria to not only include the Village of Clarkston and most of Independence Township, but also parts of Springfield Township, Orion Township, White Lake Township and Waterford Township. Springfield Township specifically is too small to compare sales data; there just simply isn’t enough population to generate a sales volume worth examining by itself.

As you will see from the various charts below, prices in the Clarkston school district have been trending upward for well over a year

As you can see from the chart immediately below, except for a weak Jan this year, the 2011 brown line is above both the 2010 yellow line and the blue 2009 line. For the most part the yellow 2010 line is above the blue 2009 line with only three dips below the 2009 line.

clarkston mi home sales data 

Sales prices in 2010 were up from 2009 with a year end average price up 6.8%. Only 3 months during 2010 did the average price drop below the average sale price for the same month in 2009- March, July and December.  And as you will see a couple graphs down, that trend of rising prices is continuing into 2011.

 clarkston mi home sales

Year to date sales are continuing the above trend.  As you can see below prices in 2009 dropped drastically from 2008 and then gradual increases in 2010 and 2011.

clarkston mi home sales 

As well as quarterly sales displayed below in 2 manners. First you can see that 2010 sales were higher each quarter than the same quarter in 2009, and that the first quarter in 2011 saw a higher average sale price than the first quarter of 2010.

 clarkston mi home sales

Then again below when I started with the first quarter in 2008 through the first quarter in 2011. You can see we are nowhere near the prices at the beginning of 2008, but  you can see we bottomed out in quarter 6 (the second quarter in 2009) and the average sale price for the first quarter of 2011 (quarter 13) is higher than every quarter since the 3rdquarter of 2008. Even though the line zig zags it is consistantly rising- the zigs are going higher and the zags aren’t as low.

 clarkston mi home sales

Sale prices in the Clarkston school district are showing a strong (and long) trend of inclining prices. Closing in on a year and a half of increasing prices I think it’s safe to say that we are no longer a declining market and are at minimum a stable market and at best prices are on a slight/healthy increasing pace.

Jackie Hawley
Keller Williams Realty
cell: 248-736-6407
Jackie@JackieHawley.com
www.MiRelocation.com

Buying a Foreclosure Listing

All About Short Sales and Why They May Not Be Right for You

Buying a “Normal” Listing

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Lakefront Real Estate

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Clarkston MI- 2010 Sales Were UP!! Units, Sales Price and Volume! Foreclosures Down!

Clarkston MIGreat News! Unit sales were up! Average Sales Price was up! Median Sales Price was up! Unit sales were up 15.6% in 2010 from 2009. Average sales price in 2010 was up 6.4% from 2009 and the median sales price in 2010 was up 7.4% from 2009. Total sales volume in 2010 was up over $16.5 million from 2009 and up over $5.7 million from 2008.

Bank owned sales made up 36% of the total sales in 2010; bank owned sales made up 45% of the total sales in 2009. Though foreclosure sales were down, short sales were up constituting 22.5% of the total sales in 2010 but only 14.7% of the total sales in 2009.

Inventory is down. On 3-3-2011 there were 161 active listings in Independence Township/Clarkston. On 3-4-2010 there were 196 active listings and on 3-7-2009 there were 306 active listings. Currently that’s about a 4 1/2 month inventory opposed to a 10 1/2 month inventory 2 years ago. Many of the current listings are crap- basically overpriced, because no matter how bad the condition of a house is it will sell if properly priced. I recently listed a home in Independence Township and had 4 offers within 2 days. It is not uncommon to be in a multiple offer situation and most homes are selling within 60 days after achieving their final asking price.

2009:

353 units sold
average sales price: $176,611
median sales price: $150,000
total volume: $62,343,820

2010:

418 units sold
average sales price: $188,624
median sales price: $162,000
total volume: $78,844,620

Jackie Hawley
cell: (248)736-6407
email: Jackie@JackieHawley.com

Clarkston MI Detailed Sales Data

North Oakland County MI Neighborhoods

North Oakland County MI Lakefront Real Estate

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