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2078180

MEL DRYMAN

Raised in Detroit, Experienced in Arizona

Your Professional
& Dedicated
ARIZONA REALTOR

SEPTEMBER HOME SALES STATS

R

ealcomp, the multiple listing
and data service for Metro
Detroit Realtors, released its
monthly totals for September.
Compared to September 2015:
• The median sale price was up 9.2
percent, from $146,000 to $159,500
• Monthly sales were down 5 percent
• Communities with the most
September sales: 1) Detroit 2)
Warren 3) Livonia 4) Sterling
Heights 5) Canton Township
• Average days on market was down
by 3 days
The median sales price in 2016
for the four counties comprising
Metro Detroit was $167,000, up
from $158,500 a year earlier. In
September, the median sales price
was $173,500 — much higher than
the yearly average.

According to Realcomp:
• Sellers, on average, are getting 97.2
percent of their list price so far in
2016 in Metro Detroit, up from 96.9
percent.
• In Livingston County, sales
dropped 9.2 percent to 307 sales,
while the median home sale price
increased 17.2 percent to $239,000.
• Macomb County saw sales drop 7.6
percent to 1,334 in September, while
the median price increased by 7.2
percent to $149,950.
• In Oakland County, home sales
dropped 7.4 percent to 1,934, while
the median price rose 10.3 percent
to $215,000.
• Wayne County sales dropped 1.2
percent to 1,833, while the median
sale price increased by 5.6 percent to
$118,000.

*

Mobile: (480) 239-8686

mel.dryman@azmoves.com

Each Office Independently Owned and Operated

2117430

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A

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2043970

30 October 20 • 2016

ccording to a study published
by New Jersey-based real
estate firm Coldwell Banker,
the city of Detroit is the most afford-
able home market in the United States.
To determine the rankings, Coldwell
looked at the average listing price for a
four-bedroom, two-bathroom house in
various cities across the United States.
The average price for a house that size
in Michigan is $268,279 according to
the study.
However, in Detroit, the average list-
ing price is less than a quarter of that,
coming in at $64,110. The next closest
affordable community in the state is
Jackson at $114,860. Rounding out
the top five most affordable markets
are Shepherd at $124,458, Hillsdale at
$131,645 and Escanaba at $143,717.
Cleveland came in second in the
nation at $73,073.

“The city of Detroit has been expe-
riencing a renaissance in the last few
years. Due to an invigorated commu-
nity, culture and resurgence of young
professionals, more and more people
are looking to Detroit as an affordable
place to settle and lay down roots,” said
John North, CEO of Coldwell Banker
Weir Manuel in Bingham Farms, in a
press release.
On the flip side, Bloomfield
Township ranks as the most expensive
place to buy a home in Michigan at
$490,628 with Ann Arbor trailing just
behind at $490,571. Other markets
in the top five most expensive areas
are New Buffalo at $488,420, Beverly
Hills at $481,958 and Traverse City at
$426,853.
The national average for a four-
bedroom, two-bathroom house is
$320,120.

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