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Posts Tagged ‘oxford mi real estate’

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

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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

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Want to Buy a Newer 4 Bedroom Home in Oxford MI With ZERO Money? Woodbriar May be the Sub for You!

woodbriar oxford mi real estate oxford mi homes for sale in woodbriarFortunately for today’s home buyer, Oxford MIis still considered rural enough to qualify for Rural Development financing and you don’t have to be out in the country to qualify. Woodbriar sub is located in Oxford MI, just off Drahner Rd a little west of M-24. Woodbriar Sub is a 156 home neighborhood built roughly between 1998 and 2002 with homes ranging in size from just over 1500 sq. ft. to just over 2400 sq. ft. and if you qualify for a rural development mortgage you can get into one of these homes for zero dollars!

 

Some of the many amenities of Woodbriar, Oxford MI include:

  • 3 small parks
  • community well
  • public sewer
  • sidewalks
  • large yards

Prices in 2010 were about the same as 2009. There were 10 sales in 2010 ranging in price from woodbriar oxford mi real estate oxford mi homes for sale in woodbriar$102,250-$189,000. Admittedly, $102K is not the norm- there were only 2 sales in 2010 under $133,000. But that house that sold for $133,000 previously sold for $224,900 in 2005– a 3 bedroom 2 1/2 bath home with an unfinished walk out. It was a bank owned house and more than likely needed some work/updating, but very few homes that sell are perfect. in 2004 you couldn’t touch a house in Woodbriar for under $200K when houses sold for between $205,000-$303,000.

If you are thinking about purchasing a home and have been sitting on the fence waiting for the market to hit bottom– it is probably time to hop off that fence. Prices in Woodbriar were on par with 2009 and prices in general in both Oxford MI and Lake Orion MI have been inching up. Also, interest rates are still low but have also been inching up recently.

For more information about purchasing a home in Woodbriar, Oxford MI please contact me, Jackie Hawley

Jackie@JackieHawley.com
Cell: (248)736-6407

Woodbriar, Oxford MI

Homes for Sale in Oxford MI

Homes for Sale in Lake Orion MI

For Buyers

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