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Northville real estate update

Here's what is happening in the Northville real estate market in the last ninety days. The market has changed since the beginning of the year. It was a buyers market during the winter but it has change a little bit. Homes are not staying on the market as long. If you notice the average time on the market is only 4 monthes right now.

If you look at the table below you will notice that the over $800,000 Northville real estate market is dead. Only one home in that price range has sold. It is quiet. I would say the over $800,000 price range is a buyers market right now. Whether the sellers are willing to negotiate is another matter.

Northville Real Estate Statistics Legend

	Price Range	Number of Listings	Days on Market

	10,000 to 110,000	2	90
	110,001 to 210,000	13	94
	210,001 to 310,000	23	134
	310,001 to 410,000	16	111
	410,001 to 510,000	20	162
	510,001 to 610,000	5	121
	610,001 to 710,000	6	108
	710,001 to 810,000	2	51
	810,001 to 910,000	0	0
	910,001 to 1,010,000	0	0
	1,010,001 to 1,110,000	0	0
	1,110,001 to 1,210,000	0	0
	1,210,001 to 1,310,000	0	0
	1,310,001 to 1,410,000	0	0
	1,410,001 to 1,500,000	1	207

For the 88 *Northville listings*:		For the 88 *Northville Sold listings*:
Average List Price	$402,424.00	Average Sold Price	$372,999.00
Median List Price	$373,945.00	Median Sold Price	$346,950.00
Highest List Price	$1,899,000.00	Highest Sold Price	$1,500,000.00
Lowest List Price	$76,500.00	Lowest Sold Price	$68,750.00
List Volume	$35,413,340.00	Sales Volume	$32,823,900.00
Avg. Days On Market	125	Avg. Days On Market	126

If you notice there are not many homes that have sold lately under $200,000 in Northville. Only 15 Northville homes have sold in the last 90 days under $200,000. It's to imagine that there were 2 homes in Northville that sold for under $100,000. There are bargains in Northville real estate right now. I have recently helped a client buy a nice house for under $200,000 and it wasn't a bank foreclosure, it was a corporate relocation property. There are deals in short sales, estate homes, and relocation homes.

I hope this helps you understand the Northville real estate market right now. Feel free to call me with any questions or if you want to see some Northville homes.

Russ Ravary your Metro Detroit real estate

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Posted on Aug 02, 2009 @ 10:12 pm by russ.ravary - View Profile