For the fourth straight month, Michigan’s monthly home sales outpaced last year while average prices remained steady. According to the Multiple Listing Service (MLS) reports compiled by the Michigan Association of REALTORS®, 8.717 single-family homes sales increased 3.26% in October compared to October 2010. At the same time, the average sales price for Michigan homes was $109,708 in October; the YTD price has been over $105,000 for five months straight. Sales in the last four months are nearly 9% above last year.
Several locals showed an increase in sales volume while Eastern Thumb, Emmet, Grand Rapids and West Central all showed an increase in number of sales of 15% or more.
Key Statistics:
$107,941 – 2011 average sales price, YTD
88,774 – 2011 single family units sold, YTD
$ 9,582,354,334- 2011 total sales volume, YTD
Monthly housing statistics for MAR are reported by participating Michigan REALTOR® local boards and associations.
