Feeds:
Posts
Comments

Posts Tagged ‘oxford mi home sales’

Oxford MI Home Sales- Trend or Anomaly?

Trend!

You can see from the charts below, the average sales price every month in 2013 beat the same month from the previous year.

oxford average sales price by month 2012 and 2013

When you compare 2012 to 2011 you can see the lines criss crossing, but 2012 prices were higher than 2011 more times than not.

oxford average sales price by month 2011 and 2012

When you compare 2010 and 2011 (below) you get a criss crossing but with 2010 coming out on top more than 2011 indicating 2010 through 2012 were stabilizing with improvement.

oxford average sales price by month 2010 and 2011

Prices have been increasing and more higher dollar homes have been selling. There has also been a huge reduction in distressed home sales (short sales and foreclosures). Distressed sales only made up about 25% of the total sales in 2012; in 2009 distresses sales made up 58% of the total sales in Oxford MI. Low inventory is also contributing to the rise in home prices. On Feb. 20, 2014 there were only 103 active listings- that’s about a 3 month inventory.

Prices have continued to escalate into 2014. January sales are up by a couple units, over a half million in volume and the average sales price is up a little over 3 1/2%. Hopefully this continues through the year and beyond.

Search The MLS

Oxford MI Homes for Sale

Area Parks and State Land

Oxford MI Home Sales Data

Read Full Post »

Oxford MI home sales – units, prices and total sales volume were up significantly (2013 over 2012). Unit sales in 2013 were up 16% from 2012. The average sales price was up 21% from 2012 and up 26% from 2011. Volume sales were up almost 22 million from 2012 and distressed sales were down significantly.

The lack of short sales and foreclosure sales have helped with the price increase as well as a very low inventory. On Jan. 18, 2014 there were only 116 active listings in Oxford and Oxford Township. In Jan. 2007 there was an average of 283 listings in Oxford.

I believe the prices will stabilize a bit as more home owners have enough equity to sell. But the inventory needs to probably triple. There are also more buyers than in the past- many who lost their home a few years ago are back in the market to purchase. Interest rates are still very low, qualifying many who might not be able to afford to live in Oxford if the rates were at 6 or 7%.

For a more accurate look at what your house may be worth you need to look more locally; I have a handful of subs and several lake communities linked below with current sales data.

Oakland County Neighborhoods

Oakland County Lakes

Below are some charts and graphs with Oxford MI/Oxford Township sales data.

Jackie Hawley
ReMax Encore, Clarkston MI
Cell: (248) 736-6407

Jackie@JackieHawley.com

Search the MLS

Residential sales data from Realcomp MLS excluding lease transactions, condo and vacant land

Read Full Post »

Oxford MI Real Estate– Oxford Home Sales Are Up

Oxford MI home sales are up 6%. The average sales price in Oxford is up 6% and the median home sales price is also up 14%. There has been $3,775,250 more in residential real estate sales so far in 2012 versus the same time frame in 2011 (the first 3 quarters). Listing inventory (Oxford homes for sale) is very low.

On Oct. 24, 2012 there were only 90 homes for sale in Oxford MI. With an average of 22 sales per month that is less than a 5 month supply of active listings.

Distressed home sales (short sales and foreclosures) are down in Oxford with distressed sales making up 42% of the total sales. In 2011 distressed sales made up 59% of the total home sales in Oxford, MI.

Total Sales Oxford MI (units):

2012: 195
2011: 183

Distressed Sales (units) Oxford MI:

2012: 82
2011: 108

Average Sales Price Oxford MI:

2012: $170,750
2011: $161,317

Median Sales Price Oxford MI:

2012: $169,000
2011: $145,040

Sales Volume Oxford MI Home Sales:

2012: $33,296,330
2011: $29,521,080

The decline in distressed home sales contributes to the increase in overall home prices. And this is a catch 22 in a good way- the more Oxford home prices go up the less under water houses there are so less distressed home sales. As Martha Stewart would say: This is a good thing for the Oxford MI home owner. Or potential Oxford MI home buyer.

Search the MLS

What to Expect From a Buyer’s Agent

Financing and the Importance of a Pre-Approval

The Home Inspection

Oxford MI Homes for Sale

Oxford Lakefront Homes

Jackie Hawley, Realtor
ReMax Encore, Clarkston MI

Jackie@JackieHawley.com

Cell: (248)736-6407

www.MiRelocation.com

Read Full Post »

Woodbriar Sub, Oxford MI Home Sales Update

Home sale prices in Woodbriar Sub in Oxford MI seem to have stabilized over the past couple years and may even be shifting upwards. So far this year there have been 4 closed sales in Woodbriar ranging in sale price from $132,950-$183,000.

  1. 1141 Woodbriar 3 bedroom 3 1/2 baths bank owned $132,950 sold for $276K in 2006
  2. 444 Pine Valley 4 bedroom 2 bath bank owned $169,750 sold for $206,380 in 1999
  3. 1208 Poppy Hill 3 bedroom 3 1/2 baths “normal sale” $179,000 sold for $261,478 in 2001
  4. 445 Glen Eagles Ct 4 bedroom 2 full 2 half baths “normal sale” $183,000 sold for $262,975 in 2001

There is currently 1 listing in Woodbriar pending with an asking price of $159,900 and no homes actively for sale at this time.

Homes in Woodbriar Sub don’t sit around on the market long if priced properly, with an average time on the market of less than 9 days (2011 sales). I calculate days on the market from time a listing hits it’s final asking price until pending/ccs. Overpriced homes aren’t really “on the market”- they’re just active listings. 3 of the homes sold within 3% of asking price, 1 home sold within 4% of asking price and 1 home sold for 1/2% over asking price.

So far in 2011:

  • 4 closed sales
  • 2 bank owned
  • 0 short sales
  • 2 “normal” sales
  • Median sale price: $174,375
  • Average sale price: $166,168

Home sales in 2010:

  • 11 closed sales
  • 4 bank owned
  • 3 short sales
  • 4 “normal” sales
  • Median sale price: $159,500
  • Average sale price: $151,057

Home sales in 2009

  • 7 closed sales
  • 0 bank owned
  • 2 short sales
  • 5 “normal” sales
  • Median sale price: $147,250
  • Average sale price: $161,807

We’re still a long way from the average sales price of $233,300 that Woodbriar sold for in 2004 but so far in 2011 both average and median sales prices are above both 2010 and 2009.

For More About What Woodbriar, 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

Read Full Post »