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Oxford Lake, Oxford MI Home Sales Update

Home sale pricesin Oxford Lakes Sub in Oxford MI are still pretty much in the crapper. Sales so far this year range from $111,550-$149,900 for off the water houses, and 2 houses on Oxford Lakesold for $173,000 and $381,000. That $381K sale is the only sale so far this year over $200,000. There are 2 sales pending – both short sales- with asking prices of $112,000 and $225,000. There is one rental listing pending at an asking price of $2400/month. There is currently 1 home listed for lease at $1800/month and 2 active listings for sale- a bank owned home asking $142,900 and a “normal” listing asking $214,500.

In 2005 only 4 of the 28 off the water houses that sold,  sold for less than $200,000. 6 of those 28 sold in the $300’s and both lakefront sales were in the high $300’s. Who would have thought you could ever buy a house in the same neighborhood for under a hundred and a quarter or a lakefront house for under $200,000.  

So far in 2011:

  • 6 closed off the water sales
  • 5 bank owned
  • 1 short sales
  • 0 “normal” sales
  • Median sale price: $135,164
  • Average sale price: $132,136
  • 2 lakefront homes (on Oxford Lake) a bank owned for $173,000 and a “normal” sale for $381,000

Home sales in 2010:

  • 17 closed off the water sales
  • 9 bank owned
  • 1 short sales
  • 7 “normal” sales
  • Median sale price: $152,000
  • Average sale price: $156,458
  • 6 lakefront homes (on Oxford Lake) 1 bank owned, 4 short sales and 1 “normal” sale
  • Lakefront home sales ranged from $135,000-$350,000

Home sales in 2009

  • 15 closed off the water sales
  • 7 bank owned
  • 0 short sales
  • 8 “normal” sales
  • Median sale price: $140,550
  • Average sale price: $145,020
  • 3 lakefront homes (on Oxford Lake)- 1 short sale and 2 “regular” sales
  • Lakefront home sales prices were $242,000, $300,000 and $400,000

Oxford Lakes still offers the same amenities as it did in it’s hey day- The 6 acre park with the tennis courts, volleyball court, beach and private boat launch, picnic tables, grills, and more. The same 2 acre little kids park, community water, sewer, sidewalks… 

For More About What Oxford Lakes, Oxford MI Has to Offer

Oxford MI Homes for Sale

Do You Really Want to Buy a Fixer

What Happens if the Appraisal is Low?

 How NOT to Buy a House

The Perfect House- Doe it Exist?

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

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oxford lakes oxford mi homes for saleOxford Lakes, Oxford MI- More Distressed Sales But Prices Still Stabilizing

In 2010 there were quite a few more sales in Oxford Lakes than in 2009, but there were also more distresses sale – short sales and foreclosures. In 2009 foreclosures and short sales made up 44% of the total sales in Oxford Lakes and in 2010 they made up 65% if the total sales. But despite the fact there were quite a few more bank owned and short sales the prices seemed to be a bit higher than last year.

 

2010 unit sales – 23
2009 unit sales – 18

10 bank owned and 5 short sales in 2010
7 bank owned and 1 short sale in 2009

In 2010 sale prices ranged from $119,178 – $350,000
In 2009
sale prices ranged from $77,900 – $400,000

2010 there were 6 lakefront sales (Oxford Lake) ranging from $135,000 – $350,000
2009 there were 3 lakefront sales (Oxford Lake)- $242,000, $300,000 and $400,000

oxford lakes sales

2010 there were no sales under $100K, 2 in the $120’s, 5 in the $130’s, 1 for $140K, 6 between $150K and $200K, 6 in the $200’s 

2009 there was 1 sale under $100K, 3 in the $120’s, 2 in the $130’s, 3 in the $140’s, 3 in the $150’s and none from $160K and $200K, 3 in the $200’s

Detailed chart of Oxford Lakes home sales with addresses, sale type, etc.

There are currently 5 sales pending in Oxford Lakes and 4 active listings for sale ranging in asking price from $124,900-$324,900.

Some of the Oxford Lakes sales in 2010 were half what they had sold for 5 or 10 years ago. 730 Lakes oxford lakes oxford mi homes for saleEdge, for example, is a lakefront home that recently sold for $177,000; it sold for $410,000 in 2003. 867 Bay Pointe Dr sold for $255,000 in 2010 and had sold for $450,000 in 2000.

Some of these houses were in pretty rough shape. Some were in move in condition. Many of the houses that sold in Oxford Lakes in 2010 were over 2000 sq. ft., 3 or 4 bedrooms, 2+ baths, basements and attached garages.

Oxford Lakes is located in the Village of Oxford MI and boasts 2 parks– 1 2 acre children’s park and a 6 acre park with a basketball court, 2 regulation size tennis courts, volleyball court, picnic tables, grills, gazebo, sandy beach and private boat launch. Oxford Lake is about 115 acres of very clean water– electric motors allowed. This spring fed, ex-gravel pit lake has been stocked with bluegill, bass, walleye and trout. And because it used to be a gravel pit, the lake is fairly deep, clean and most of the lakefront homes have sandy beaches.

Oxford Lakes boasts many amenities such as sidewalks, community water and sewer, entrances onto 2 main roads, close to schools, and easy access to expressways.

Right now is a great time to purchase a home in Oxford Lakes– while many are selling for less than they had in the mid nineties and while interest rates are super low. Oxford MI is in the approved area for Rural Development mortgages which allow qualifying buyers to purchase with zero money into the transaction.

Please contact me for more information about your Oxford Lakes home purchase

Jackie Hawley
Keller Williams Realty

cell: (248)736-6407

Jackie@JackieHawley.com

Oxford MI Homes For Sale

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Oxford Lakes, Oxford Michigan Real Estate Sales

Oxford Lakes subdivision, Oxford Michigan is a platted subdivision neighborhood in theoxford lake 6 acre park and beach oxford michigan Village of Oxford Michigan. Living in Oxford Lakes is not just an investment- it’s a lifestyle. Oxford Lakes subdivision was developed around 115 acre Oxford Lake and its Caribbean blue waters. Oxford Lakes offers a mixture of floor plans ranging from standard ranches to traditional split levels to contemporary to custom housing. Both off the water and on the water housing must conform to subdivision restrictions for the protection of its residents.

In good times you really couldn’t touch a house in Oxford Lakes for under $200K. In 2004 there were 23 houses sold through the MLS ranging in price from $182,900-$377,900. None were lakefronts and only 2 under $200,000. In 2009 13 of the 18 sales were under $200,000 and one of those was under $100,000.

oxford lake tennis courts oxford michiganSo far this year the lowest sale price was $125,200. There have only been 4 closings this year in the two hundreds and 2 sales over $300K- both lakefronts.

While prices and interest rates are still low now is a great time to invest in Oxford Lakes, Oxford Michigan. 

Oxford Lakes boasts many amenities such as sidewalks, community water and sewer, entrances onto 2 main roads, 2 parks and beach area for off the water homes.

First there’s the 6 acre park at the entrance of the sub (Drahner Rd entrance) that features gazebo, basketball court, two regulation size tennis courts, volleyball court, picnic tables, grills, sandy beach and private boat launch.

There’s also the children’s park on Thornhill Trail. A 2 acre park with playground equipment, picnic table and spacious pavilion. Both parks feature rest room areas.

Oxford Lake is about 115 acres of very clean water– electric motors allowed. This spring fed, ex-gravel pit lake has been stocked with bluegill, bass, walleye and trout. And because it used to be a gravel pit, the lake is fairly deep, clean and most homes have sandy beaches.

Search the MLS

Oakland County Lakefront Homes for Sale

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