ST. CLAIR SHORES REAL ESTATE MARKET REPORT - April 2008
If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation.
The spring selling is here! I'm happy to report that 52 homes closed in April up from 34 in March, that's a 52% increase!
ST. CLAIR SHORES MARKET REPORT FOR APRIL - HOMES
- There were 52 home sales that closed in April
- The average list price was $112,672
- The highest list price was $239,900 & the lowest was $28,500
- The average sale price of those 52 transactions was $106,801
- The average total days on the market was 204
- 56 homes went under contract and are marked pending for the month of April.
Of those 52 closed transactions, 25 were bank owned & there were no waterfront closings. While it is tuff to see some of the bank owned homes selling real cheap and bringing values down, I am glad to see them to continue to sell. The sooner the inventory goes down, the sooner the market can start to recover.
ST. CLAIR SHORES MARKET REPORT FOR APRIL - CONDOMINIUMS
- I am happy to report that there were 4 condos that closed in April.
- The average list price was $98,925
- The highest list price was $174,900 & the lowest was $38,500
- The average sale price was $86,625
- The average total days on the market was 161
- There were 7 condos that went pending in April
This current buyers market makes it a great time to purchase a home or condo in St. Clair Shores. As of May 1st there are currently 639 single family homes for sale ranging in price from as low as $35,000 investor specials to waterfront homes well over $1 million. There are many homes to choose from, no matter what your price range, now is the time to take advantage of this market, prices will not remain this low forever. Interest rates are still low and there are some great FHA loans for those that want to put little or nothing down.
For more info on the St. Clair Shores Real Estate market, contact Mike Mitchell,REALTOR ®
PRICES HAVE NOT BEEN THIS LOW IN YEARS, GREAT OPPORTUNITIES! Don't be left sitting on the fence.
Mike Mitchell - REALTOR ®
GMAC The Kee Group
Direct: (586)291-2652
Information deemed to be reliable but not guaranteed. Information taken from MiRealSource multiple listing service. Above sales were sold by agents and/or brokers. These statistics do not include for sale by owners. Selling prices did not include any sellers concessions.
Kris - Thank you so much, I really value your opinion. Yes, I was very happy to see the increase & 2 of those closings were my listings! Bank owned homes continue to be aprox. 50% of monthly sales, but like I said in my report, the sooner the inventory reduces, the sooner we can make a recovery. Positive signs so far!
Mike, It looks as though there is some good market activity in your area. That is great news. I hope things just keep rolling along for you. GBU!
Elizabeth - I'm hoping the activity continues or increases for May.
Thanks for stopping by and commenting!
Mike, I'm glad to see home sales are up in your area. You hit the nail on the head when you said "The sooner the inventory goes down, the sooner the market can start to recover." This is great data, thanks for sharing!
Hi Bonny - thanks for stopping by and commenting. I'm hoping that May statistics continue to climb. How's your market doing?