MI Real Source Market Trend Report January 2014

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Information about MI Real Source Market Trend Report January 2014
Real Estate

Published on February 19, 2014

Author: marketingrmx

Source: slideshare.net

Description

Presented by RE/MAX of Southeastern Michigan.
Make Your Move with the #1 Name in Real Estate.
Go to remax-detroit.com or Call 1-877-345-REMAX to connect to an agent about buying a home or selling your home in today’s market.

MI REAL SOURCE MLS JANUARY 2014

JANUARY 2014 $89,400 JANUARY 2013 MEDIAN SALES PRICE $70,000 28% $140,000 $120,000 $89,400 $100,000 $80,000 $60,000 $40,000 $20,000 $0 The Median Price for all homes sold in January was $89,400, which is 15% lower than the median price in December and 28% higher than the price in January 2013. MI REAL SOURCE MLS JANUARY 2014

JANUARY 2014 1,230 JANUARY 2013 CLOSED TRANSACTIONS 1,482 17% 2500 2000 1500 1,230 1000 500 0 The Market Trend Report for January showed a 21% decrease in the number of Closed Transactions over December and an 17% decrease over sales in January 2013. MI REAL SOURCE MLS JANUARY 2014

JANUARY 2014 48 JANUARY 2013 DAYS ON THE MARKET 54 11% 60 50 48 40 30 20 10 0 The average Days on the Market for all homes sold in January was 48. This is 1 day more than the average in December and 6 days less than the average in January 2013. MI REAL SOURCE MLS JANUARY 2014

JANUARY 2014 4.2 JANUARY 2013 4.2 MONTHS SUPPLY OF INVENTORY 0% 6.0 5.0 4.0 4.2 3.0 2.0 1.0 0.0 The number of Months Supply of Inventory at the end of January was 4.2 which is an 18% decrease over December and no change from January 2013. MI REAL SOURCE MLS JANUARY 2014

Description The Market Trend Report is distributed each month on or about the 15th. The Report is based on data provided by Terradatum from the local MI Real Source Multiple Listing Service and is not annualized. While MLS and Terradatum data are believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Data for prior periods is not being recalculated for this report. Definitions Median Sales Price is the median price of all residential properties sold during the month. Closed Transactions are the number of residential transactions closed during the given month. Days on the Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month).

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