Check out these stats and highlights from Realcomp II Ltd.  Home prices are heading in the right direction and homes are selling quicker than they did this time last year.  Did you know that it is a seller’s market in many metro Detroit communities?  Now is a good time to consider selling your home.   

Metro Detroit Home Sales Start 2013 with Double-Digit Gains

Realcomp II Ltd.  MLS Tech Trends Publication, February 18, 2013

Highlights:

• All MLS sales up by 9.4% for the first month of the year compared to last January.
• Median sale price for All MLS sales increased to $80,091–up by 27.1% over January of last year.
• Average Days On-Market (DOM) for the entire MLS decreased by 8 days, from 89 to 81.
• On-market inventory declined by 21.8%, from 27,389 to 21,423.
• Approximately 18% of on-market inventory comprised of properties identified as short sales.
• Approximately 13% of on-market inventory comprised of properties identified as foreclosures.