Market Analysis for Royal Oak Michigan July 2010

Market Analysis for Royal Oak Michigan July 2010

July 2010 median sale prices decreased 26% from June 2010 & # of homes sold decreased 44%. Private owned median price decreased 14% in July 2010 from June 2010.  Bank owned homes median price decreased 6% in July 2010 from June 2010.  July 2010 median sale price decreased 6% from July 09 & # homes sold increased 37% in July 2010. Year ending July 2010 median sale price compared to year ending July 09 stayed the same and homes sold increased 21% year ending July 2010 compared to year ending July 2009.

Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable

Active & Sold July 2010

504 listings: 53 Sold listings:
Average List Price $152,715 Average Sold Price $118,710
Median List Price $144,950 Median Sold Price $98,777
Highest List Price $599,000 Highest Sold Price $310,000
Lowest List Price $25,000 Lowest Sold Price $25,000
Avg. Days On Market 140 Avg. Days On Market 108
Private Owned 454 listings Private Owned 39 Sold
Median List Price $149,900 Median Sold Price $118,800
Bank Owned 50 listings Bank Owned 14 Sold
Median List Price $79,900 Median Sold Price $70,800

Active & Sold June 2010

536 listings: 95 Sold listings:
Median List Price $144,900 Median Sold Price $133,900
Private Owned 478 listings Private Owned 76 Sold
Median List Price $150,000 Median Sold Price $137,500
Bank Owned 58 listings Bank Owned 19 Sold
Median List Price $84,950 Median Sold Price $75,000

Active & Sold July 2009

540  listings: 89 Sold listings:
Median List Price $139,950 Median Sold Price $105,000

August 1, 2008 – July 31, 2009

1159 listings: 708 Sold listings:
Median List Price $134,999 Median Sold Price $120,000

August 1, 2009 – July 31, 2010

1349 listings: 898 Sold listings:
Median List Price $129,900 Median Sold Price $120,000
Aug Sept Oct Nov Dec Jan Feb Mar Apr May June
Compared to previous month +20 -15 +07 +05 -13 00 -09 +10 +07 +11 -01
Compared to same month previous year (2008 – 2009) -04 -14 -14 -09 -05 +03 +05 -01 +21 +14 +09
Compared Yr. Ending each month to previous Yr. Ending -23 -25 -24 -23 -23 -21 -20 -18 -13 -09 -04

Monthly market analysis July 2010 for Royal Oak Michigan compares only median sold price of residential homes sold in July 2010 with June 2010 & July 09; year ending July 2009 with yr ending July 2010. It shows all homes sold then private owned vs. Bank Owned/HUD to determine the # of homes sold for the month and increase/decrease in median sold price.  To exclude leases in data, minimum sale price used was $5,000.

To previous months market analysis for Royal Oak Michigan, click here

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