Ferndale Monthly Market Analysis Homes Sold October 2010

By
Real Estate Agent with RE/MAX Showcase Homes

Ferndale Monthly Market Analysis Homes Sold October 2010

October 2010 median sale prices increased 27% from September 2010 & a 17% increase in # of homes sold. Private owned median increased 20% in October 2010 from September 2010.  Bank owned homes median price increased 10% in October 2010 from September 2010. October 2010 median sale price decreased 20% from October 2009. Yr ending October 2010 median sale price compared to yr ending October 2009 increased 20%.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable

Active & Sold October 2010

295 listings: 41 Sold listings:
Average List Price $75,011 Average Sold Price $66,140
Median List Price $63,000 Median Sold Price $45,500
Highest List Price $269,000 Highest Sold Price $225,000
Lowest List Price $ 9,495 Lowest Sold Price $ 8,000
Avg. Days On Market 133 Avg. Days On Market 102
Private Owned 247 listings Private Owned 27 Sold
Median List Price $70,000 Median Sold Price $80,000
Bank Owned 48 listings Bank Owned 14 Sold
Median List Price $34,400 Median Sold Price $23,800

Active & Sold September 2010

304  listings: 34 Sold listings:
Median List Price $63,500 Median Sold Price $33,000
Private Owned 260 listings Private Owned 22 Sold
Median List Price $70,000 Median Sold Price $64,250
Bank Owned 44 listings Bank Owned 12 Sold
Median List Price $26,950 Median Sold Price $21,501

Active & Sold October 2009

304  listings: 50 Sold listings:
Median List Price $64,900 Median Sold Price $56,550

November 1, 2008 – October 31, 2009

711 listings: 457 Sold listings:
Median List Price $53,000 Median Sold Price $40,000

November 1, 2009 – October 31, 2010

681 listings: 427 Sold listings:
Median List Price $59,900 Median Sold Price $50,000

Ferndale Michigan Market Analysis for October 2010 Compares only median sold price of residential homes sold in October 2010 with September 2010 & October 2009; year ending October 2009 with yr ending October 2010. It shows all homes sold then private owned vs. Bank Owned/HUD.  To exclude leases in data, minimum sale price used was $5,000.

Nov Dec Jan. Feb Mar Apr May June July Aug Sept Oct
Compared to previous month +03 -07 +29 -41 +27 -12 -09 +31 -43 -11 -07 +27
Compared to same month previous year (2008 – 2009) +19 +09 +63 +33 +44 +39 +26 +43 -45 -41 -34 -20
Compared to Yr. Ending same month previous Yr. -40 -34 -31 -25 -16 00 +15 +27 +16 +21 +23 +20

To see more statistics from previous months for Ferndale Homes Sold, click here.

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Cathy Tishhouse

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