The link below will take you to a comparison for the number of closed transactions by county (Macomb, Livingston, Washtenaw, Oakland, Wayne and within the city of Detroit) and price range over the past four years. The charts as a whole show an interesting trend of the under $100,000 price range closed activity is dramatically shrinking with the exception Macomb county, which has experienced a small increase. You will notice some great news in Oakland County where all price ranges OVER $250,000 are up and all UNDER $250,000 are down. That is definitely a positive sign for the Michigan real estate market. A similar trend is happening in Washtenaw County with the $300,000+ market seeing a nice increase in closings while the lower ranges are not as consistent, some are up while others are down. As a contrast to the Detroit Metro Area, all price ranges within the City of Detroit are showing a decrease in closed transactions over this same time period in 2010. Could this decrease in the city of Detroit be due to a lack of inventory? Will the good news continue? Only time will tell. Check back often, we will keep you posted.
Market Graphs through March 31, 2011
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