Oakland County Michigan Real Estate Homes for Sale

North Oakland County Michigan Home Sales


For the purposes of defining North Oakland I searched Groveland Township, Brandon/Ortonville, Oxford, Addison/Leonard, Springfield Township, Independence/Clarkston, Orion/Lake Orion. I put a bottom end price of $10,000 to eliminate most, if not all, of the rental properties. And I searched residential real estate- no condos, commercial or vacant land. Residential does include site condo homes- site condo is just a zoning not much different than a home in a platted sub.

2014 overall unit sales in North Oakland County were down 3% from 2013, but when I backed out distressed sales (foreclosures and short sales) unit sales were up 12% from 2013. Average and median sales prices were up. Sales volume was up. Distressed sales were down. Distressed sales were down a lot and are continuing to go down. Probably one of the biggest reasons sales prices are up.

Distressed sales made up 12% of the total sales in North Oakland County in 2014, 25% of the total sales in 2013, 42% of the sales in 2012. 2009, 2010 and 2011 distressed sales were more than half the total sales. January of 2015 distressed sales only made up 8% of the total sales in North Oakland County.

 


north oakland county median sales prices


As you can see from the charts below and to the right, unit sales for non-distressed homes increased quite a bit more that the total sales, but prices didn't increase as much. Since we are getting into a more normal market I plan on using more stats eliminating short sales and foreclosure sales. There are enough distressed sales to skew the total numbers, but in reality foreclosures and short sales are poor comparables. Distressed homes tend to sell for less even if they are in great shape.


non distressed sales median sales price


distressed sales per cent of total sales