Detroit Real Estate

Canton Township Real estate update as of 3/25/2009

Here is what is happening in Canton Township real estate MI in the last 30 days.

There have been 100 Canton Twp homes sold or gone pending in the last 30 days.  Out of the 100 Canton homes sold 34 were foreclosures and 13 were short sales.  So 47% of all Canton homes sold in the last month were distressed sales.

Here is a quick glimpse of the Canton Township Real estate market.  Here are the bottom 7 sales and the top 7 sales.

List Price            Sold Price

 74,000               18,000

112,000              51,000

 65,000               53,000

 99,000               85,000

 89,900               91,000

107,500             107,500

114,000             108,300

150,000            155,000

168,900            170,125

255,000             255,000

299,000             280,000

369,000             310,000

349,000             320,000

309,000             331,900

The bottom three were Canton Township foreclosures sold by HUD.  They had been on the market for about 6 months each.  They were dumped by HUD and sold much below list price. 

But on the opposite end out of the 14 homes listed 5 sold at or above list price.   As you notice one home actually sold for $22,000 more than they asked for it.  That bank must have been aggressively priced it.  I am betting it got multiple offers.

So once again if you are bidding on a Canton Township foreclosures here are 5 things to take into account

1. How long has it been on the market?
2. Is it one of the best homes you have seen for the price?
3. What have been the sold prices in the area?
4. Look at the trend or how close has the list price of the homes compared to the sold price?
5. How bad do you really want it? 

Using those 5 factors that is how you should bid.  If you really want it bid to get it....it's that simple. (Within reason)   

Search Canton Twp Foreclosures and homes for sale

I hope this gave you a little idea of what is happening in Canton Twp MI real estate

                                         Russ Ravary  Canton Twp Realtor