Detroit Real Estate

 Here is a Wayne County MI real estate update.  In Oakland County the median home sales price went up for March and April.  But in Wayne County the median sales price and the number of homes sold went down.  I don't know if the reason the number of Wayne County MI homes went down is because there is a lower number of Detroit foreclosures.  I don't know for sure but I would guess that there are fewer Detroit foreclosures this year. 

I believe the way the banks are doing appraisals is helping drive Metro Detroit home prices down.  Every time there is a foreclosure in a neighborhood it drives the home prices down.  Many times the house can't appraise for more because of all the foreclosures that have sold recently.

I hope this information gives you a glimpse of what is happening In Wayne County MI real estate update. If you are looking to buy or sell Wayne County MI real estate feel free to give me a call with any questions.

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MY quote of the day is:

Let us be grateful to people who make us happy; they are the charming gardeners who make our souls blossom.--Marcel Proust