May Sales Statistics Show Big Percentage Increases over Last Year
Highlights and Analysis:
- All MLS sales increased 11.4% with 6,325 sales compared to 5,679 in May 2011.
- Oakland County sales increased 20.2% with 1,717 sales compared to 1,429 in May 2011.
- Livingston County sales increased 14.8% with 240 sales compared to 209 in May 2011.
- Average Days On-Market (DOM) for the entire MLS decreased by 13 days from last year: 97 DOM to 84 DOM.
- Of the 6,325 sales closed in May of this year, 11.6% (735) were identified as short sales.
- 46% of all sales this month were identified as cash sales.
Median Sale Price Increases:
- The median sale price for All MLS rose by 21% as compared to last year from $66,850 to $81,000.
- Genesee County median sale price rose 26.4% from $50,000 to $63,200.
- Macomb County median sale price rose 11.9% from $67,000 to $75,000.
- Oakland County median sale price rose 19.9% from $115,000 to $137,900.
- Wayne County median sale price rose 34.5% from $33,450 to $45,000© Realcomp II Ltd
Source: Realcomp MLS
