Home Sales and Selling Prices for May Continue to Rise Across Mi

According to the MLS reports compiled by the Michigan Association of REALTORS®, 11,516 single-family homes were sold in May, 2012, an increase of 18.56% over May, 2011 while the May 2012 average sales price was $111,535, an increase of 9.08% for the same time last year. Close to 30% of the MLSs reported an increase of 40%+ in number of home sales in May, while 22% reported an increase in sales price of 20%+.

Key Statistics:

$100,948 - 2012 average sales price, YTD
47,638 - 2012 single family units sold, YTD
$4.8 billion - 2012 total sales volume, YTD*

Home Sales Heat Up

Temperatures, Average Selling Price, and Home Sales Heat Up Across Michigan

April housing sales continued a positive trend across the state with 72% of the Multiple Listing Services (MLS) reporting increased sales and increased selling prices. Both home sales units and average selling prices for April, 2012 increased over April, 2011. According to the MLS reports compiled by the Michigan Association of REALTORS®, 10,136 single-family homes were sold in April, 2012, an increase of 3.46% over April, 2011 while the April 2012 average sales price was $104,058, an increase of 9.72% for the same time last year.

April was an exceptional month for 13 of Michigan’s MLSs who reported an increase in average sales price of 20%+.

Encouraging Signs

The US housing market finished 2011 on a stronger note, with sales of previously owned homes rising the most in December since the beginning of the year. See more: http://on.ft.com/zJizyj