2 0 1 4 M A R K E T T R E N D R E P O R TSoutheast Michigan Year End 2013
Corporate offiCesThe Real Estate One Family of Companies25800 Northwestern Hwy.Suite 100Southfield, MI 48075248-208-2900
Charles Reinhart Company2200 Green Rd.Ann Arbor, MI 48105734-747-7888
LiViNGstoN CoUNtYBRIGHtoN8685 W. Grand River [email protected]
Howell*2442 East Grand River517-552-0222 [email protected]
MaCoMB CoUNtYClINtoN twp21250 Hall [email protected]
FRASeR34620 Utica Rd.Suite [email protected]
St. ClAIR SHoReS27320 Harper Ave. [email protected]
SHelBy twp50190 Schoenherr [email protected]
oaKLaND CoUNtYBIRMINGHAM Max Broock275 S. Old Woodward Ave.248-644-6700
BlooMFIeld HIllS Max Broock4120 Telegraph Rd.248-626-4000 [email protected]
ClARkStoNReal Estate One31 S. Main St.248-625-0200 [email protected]
Max Broock27 S. Main St. [email protected]
CoMMeRCe twp-lAkeS8430 Richardson Rd.248-363-8300 [email protected]
MIlFoRd560 N. Milford Rd.248-684-1065 [email protected]
NovI41430 Grand River Ave.Suite D248-348-6430 [email protected]
oRtoNvIlle*875 S. Ortonville Rd., Ste. [email protected]
RoCHeSteRReal Estate One543 N. Main St.248-652-6500 [email protected]
Max Broock543 N. Main St.248-656-6500 [email protected]
RoyAl oAk26236 Woodward Ave.248-548-9100 [email protected]
SoutHFIeld30233 Southfield Rd.Suite 100248-723-0055 [email protected]
SoutH lyoN346 N. LaFayette St.248-437-3800 [email protected]
tRoy70 W. Long Lake Rd.248-813-4900 [email protected]
weSt BlooMFIeldREO/MB 6960 Orchard Lake Rd. Suite 150248-851-4100 [email protected]
WasHteNaW CoUNtYANN ARBoRReal Estate One555 Briarwood CircleSuite [email protected]
Charles Reinhart South500 E. [email protected]
Charles Reinhart West2355 West [email protected]
Charles Reinhart East2452 East [email protected]
Charles Reinhart North2200 Green [email protected]
CHelSeACharles Reinhart800 South [email protected]
dexteRReal Estate One7444 Dexter-Ann ArborSuite I & [email protected]
MIlANReal Estate One1164 Dexter [email protected]
SAlINeReal Estate One601 E. Michigan [email protected]
Charles Reinhart1020 E. [email protected]
WaYNe CoUNtYdeARBoRN23756 Michigan Ave.313-565-3200 DearbornHgts-Dearborn@ RealEstateOne.com
deARBoRN HeIGHtS25000 Ford Rd.313-561-3860 [email protected]
dowNRIveR/SoutHGAteOne Heritage Place734-284-5400 [email protected]
GRoSSe poINteJohnstone & Johnstone82 Kercheval Ave.313-884-0600 [email protected]
lIvoNIA38705 Seven Mile Rd.Suite 150734-591-9200 [email protected]
plyMoutH217 Ann Arbor Rd. Suite [email protected]
NortHWest MiCHiGaNBellAIRe515 E. Cayuga [email protected]
BeulAH275 N. Michigan [email protected]
CHARlevoIx1200 Bridge [email protected]
elk RApIdS45th Parallel Premier 101 River St. [email protected]
FRANkFoRt523 Main St.231-352-4449 [email protected]
petoSkey*1349 S. US Highway 131231-347-6200 [email protected]
tRAveRSe CIty511 East Front St.231-947-9800 [email protected]
521 Randolph [email protected]
tHroUGHoUt MiCHiGaNAlGoNAC*2615 Pt. Tremble 810-794-9393 [email protected]
AlpeNA*215 W. Chisholm [email protected]
CARo*361 N. State St.Suite 4 [email protected]
CASevIlle*6974 Main St. (M-25)[email protected]
evARt*107 East US 10231-734-9710 [email protected]
FeNtoN*425 Rounds [email protected]
GAyloRd*236 West Main St. [email protected]
GlAdwIN*1005 North State [email protected]
GRANd RApIdS*1750 Grand Ridge Court Northeast Suite [email protected]
HARBoR BeACH*128 North Huron [email protected]
HIGGINS lAke*4556 West Higgins Lk Dr.989-821-5785 [email protected]
Holt*4525 Willoughby Rd.517-694-1121 [email protected]
Houghton lake*7122 West Houghton [email protected]
INdIAN RIveR*3792 [email protected]
JACkSoN*225 Fifth [email protected]
lApeeR*1101 South Lapeer [email protected]
lewIStoN*3020 Kneeland [email protected]
MARINe CIty*505 West [email protected]
MIo*422 1/2 Morenci St.989-826-6222 [email protected]
oSCodA*213 S. State St.989-739-9129 [email protected]
poRt HuRoN*1111 Military Rd.810-985-7777 [email protected]
RICHMoNd*68800 Main St.586-727-2737 [email protected]
RoGeRS CIty*298 Wenonah [email protected]
*franchise locations
Real Estate One office unless noted.
C i T !EAt Real Estate One Family of Companies
our core values represent what is most important to
us. These beliefs are practiced every day, whether we
are interacting with one another or our clients. From
being honored as a “Top Workplace” to running the
largest real estate business in Michigan,
our EXCITEment has driven us to success.
EXcellence | Caring | Integrity | Teamwork | Empowerment!
Holt*4525 Willoughby Rd.517-694-1121 [email protected]
Houghton lake*7122 West Houghton [email protected]
INdIAN RIveR*3792 [email protected]
JACkSoN*225 Fifth [email protected]
lApeeR*1101 South Lapeer [email protected]
lewIStoN*3020 Kneeland [email protected]
MARINe CIty*505 West [email protected]
MIo*422 1/2 Morenci St.989-826-6222 [email protected]
oSCodA*213 S. State St.989-739-9129 [email protected]
poRt HuRoN*1111 Military Rd.810-985-7777 [email protected]
RICHMoNd*68800 Main St.586-727-2737 [email protected]
RoGeRS CIty*298 Wenonah [email protected]
*franchise locations
Real Estate One office unless noted.
We have finished 24 solid months of a housing recovery where both home values and
the number of properties sold have risen. There are a few big questions on most of
our minds:
How long will the recovery last?
How far will values rise?
Will there be any homes to buy in 2014?!
For the most part in Michigan, home values have recovered anywhere from 60% to
70% of their peak 2005 values, which has allowed a large number of underwater
homeowners the breathing room to sell and buy again. Low interest rates and the
return of the stable two income family have given buyers a significant boost in
purchasing power, which have fueled the multiple offer overbidding we have been
seeing over the past two years. As values rise, purchasing power falls, so over time
they equalize and we return to a more balanced market. Our prediction is that 2014
will be the beginning of a balanced market. There is still a good chance for one last
push of a frenzied spring market like the past couple of years. Both interest rates and
available housing inventories look like they will remain very low going into the spring.
This could hold off the move to a balanced market until fall.
What are the headwinds for real estate in 2014?
We can start with the potential bad stuff first and finish on a positive note with the
good news.
Stuart ElseaPresident, Financial Services
Daniel ElseaPresident, Brokerage Services
So this is what a housing recovery looks like!Treasury “Tapering” of Their Bond Purchases, i.e., the Treasury slowing down
their printing of extra money. This is likely to happen in 2014 and to some degree
interest rates reflect an anticipation of some tapering, but if the Treasury cuts back
dramatically then rates could rise, possibly to near 6%.
Mortgage Underwriting Standards. The new rules from the Dodd-Frank legislation
will cause mortgage lenders to be extra cautious on how they underwrite loans,
meaning buyers on the margins will need to jump through more hoops and some may
not be able to get financing at all. Buyers will feel the effect of Dodd-Frank in the
first half of 2014. Later in the year, we hope lenders will get comfortable with the
new rules and a competitive market will ease things up.
International Issues: International economies are pulling in a number of different
directions. To some degree a slowing international economy creates excess capacity,
which tends to drive down interest rates and prices. This keeps inflation and interest
rates low, but a booming economy also has positive influences across all borders.
The big issue to worry about is a significant economic change that causes financial
markets to lose confidence, causing a ripple effect of recessions. Could this happen?
Seems less likely each day, but there are several international economies that have
been kicking their economic problems down the road and that might finally catch up
to them (Japan, Turkey, Spain, even China).
Our Own Slow Domestic Economic Growth. A much bigger concern than any
international economic issue is our domestic economy. It is not generating enough
jobs or personal income growth to keep the housing fuel going once the pent up
demand from the recession has been released. This could result in a long period of
slow housing growth.
New Construction and specifically new construction financing: There is strong
demand for new homes, however lenders are still gun shy from the recession.
Banks are reluctant to lend to builders whose balance sheets are still in bad shape,
so there continues to be a shortage of new homes. This compounds the overall
inventory shortage since most of the new construction buyers are also selling
a home. Less in Michigan but certainly in many Sun Belt markets, their housing
recovery will not be sustained until new construction is back on track to feed the
new movers into their market.
What are the tailwinds for real estate in 2014?
Low Inventories: Whether this is a tailwind or headwind depends on if you are a
seller or buyer. Overall, a shortage of homes for sale in a recovering economy is a
tailwind, helping to fuel the equity gains we need to sustain the housing recovery
beyond 2014. We can expect low inventories going into 2014, but there has been
evidence in the second half of 2013 that sellers are seeing their value gains and more
are putting their homes on the market. If that trend picks up again this spring, we
could see some inventory relief. However, we still expect historically low inventory
levels throughout 2014.
Appreciation Rates: Fueled by record low inventories, interest rates and home
values combined with excess purchasing power from buyers resulted in some pretty
impressive appreciation over the past two years, ranging from 25 to 50% off the low
value points of 2009/10. Home values dropped farther than they should have based
on the economic conditions, so 2012/13 was a bounce back to where they should
have been. From 2014 forward we will see appreciation rates closer to historic trends
(3-7%) versus the double-digit number over the past two years.
Investors and Sellers vs. Buyers: Investors have had a significant hand in fueling
the housing recovery, absorbing a good share of the excess inventory. In Southeastern
Michigan, investors moved from historically about 5% of the market to 15%. Now that
values have gone up and available homes are scarce, many investors will begin to sell,
releasing much needed housing inventory to the market.
Former Renters Will Now Be Buyers: Beginning this year many of the former
homeowners who were forced to sell and rent are now able to buy again, releasing
even more buyer demand into the market (many of those investors will be selling to
these renters).
Millennials Entering the Housing Market: The demographics favor housing over
the next 10 years, but much of the velocity of that demand will depend on the
Millennials’ interest in homeownership. By all counts it appears their interest is
strong, which will create that important domino effect of Millennial first time buyers
purchasing the Gen X home. The Gen X will buy from the Baby Boomer empty nester
while they transition to their retirement stage. Assuming homeownership returns to
the 65% level, we should see a sustained interest in housing, regardless of economic
conditions for the next 10 years.
Shift to Mobile Devices: While not a trend that will increase the number of buyers
or sellers, the ability to access outstanding market information on mobile and
tablet devices will make gathering market information and finding and purchasing/
selling properties faster and easier for consumers (of course, we would be remiss if
we did not remind all readers that our mobile app has the richest information and
features available).
January 21, 2014
Comerica Bank’s Michigan Index Eased in November
Comerica Bank’s Michigan Economic Activity Index decreased slightly in November, down 0.2 percentage point to a level of 131.4. November’s reading is 59 points, or 82 percent, above the index cyclical low of 72.1. The index averaged 114 for all of 2012, 11 points above the index average for 2011. October’s index reading was 131.6. “Our Michigan Index eased in November as residential building permits dipped following a September surge. Job growth is a positive factor for the state, but it is beginning to fall below the U.S. average. In November, Michigan payrolls were up 1.5 percent over the previous 12 months while the U.S average gain was 1.7 percent,” said Robert Dye, Chief Economist at Comerica Bank. “Auto sales bounced through the fourth quarter; weaker in October, stronger in November and then weaker again in December. We expect auto sales to continue to increase moderately in 2014, supporting the Michigan economy, but the lift to the state economy from the recovery in the auto industry is easing as vehicle sales inch closer to their eventual upper limit.”
The Michigan Economic Activity Index consists of seven variables, as follows: nonfarm payrolls, exports, sales tax revenues, hotel occupancy rates, continuing claims for unemployment insurance, building permits, and motor vehicle production. All data are seasonally adjusted, as necessary, and indexed to a base year of 2008. Nominal values have been converted to constant dollar values. Index levels are expressed in terms of three-month moving averages.
Comerica Bank, with 214 banking centers in Michigan, is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Michigan and Texas, Comerica Bank locations can be found in Arizona, California, and Florida, with select businesses operating in several other states, as well as in Canada and Mexico. To find Comerica on Facebook, please visit www.facebook.com/ComericaCares. To subscribe to our publications or for questions, contact us at [email protected]. Archives are available at http://www.comerica.com/economics. Follow us on Twitter: @Comerica_Econ. Media Contact: Data Contact: Robert Dye Daniel Sanabria (214) 462-6839 (214) 462-6789 [email protected] [email protected]
135
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Comerica Michigan Economic Activity Index(2008=100)
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Our proud accomplishments.
Sales Volume for 2013* (Closed Transactions) $4.4 Billion
Homes Sold/Leased
26,418
Unique Visitors to our Websites
1.9 million
Buyers Who Visited our Open Houses
39,818
Showing Appointments for our Listings 170,774
Mortgage Loans/Title & Insurance Policies Closed
10,051
*includes franchises and Charles Reinhart Company
We are a Top Workplace company.
For the third year in a row, the Real
Estate One family was named by Workplace
Dynamics/Detroit Free Press as one of the
Top Workplaces both in Michigan (3rd) and
in the country (51st).
n Reinhart Realtors became
a part of our Family of
Companies. There are few real
estate companies across the
country that have dominated
their market like Reinhart has
in Washtenaw County. They are
one of the top brokers in the
state with 200 sales associates,
six offices and over $800 million
in sales volume.
n Rental Management One: In
addition to adding Reinhart’s
property management program
we have also opened Rental
Management One as a full
service property management
company to cover the state,
beyond Washtenaw County.
n Lending Star. We are
expanding the footprint of
John Adams Mortgage Company
to include a correspondent
division to help smaller lending
and credit unions facilitate
their mortgages.
Our family has grown.
Our best year ever.
Market Share Growth.
The Very Best Team.
Our market share
growth has been
impressive over the
past year. We are
still three times
larger than our
closest competitor
in the state.
Most productive in the country! Among our
peer companies of brokers across the USA (over
700 sales associates), we have the highest
per person productivity, giving our team the
experience and level of success clients need.
Most Top Agents in the State. Not surprisingly,
our team dominates the Top 50 sales
associates in Michigan with more on the list
than any other real estate organization.
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Once they join they never leave! We have over 700 employees and sales associates
celebrating 10 or more years with our family of companies.
Community Involvement.Our team members have volunteered
thousands of hours of their time and hundreds
of thousands of dollars to support their local
communities along with key organizations
such as Special Olympics Michigan, Alzheimer’s
Association, Lymphoma and Leukemia
Foundation, Multiple Sclerosis and many more.
No. of licensed Gross Sales Gross Sales No. of residential Brokers and ($000,000) ($000,000) transactions registered sales No. of Rank Company 2012 2011 closed in 2012 representatives offices
1 Real Estate One Family $2,622.4 $2,183.1 18,564 1,382 32
2 Coldwell Banker Weir Manuel 898.8 738.2 4,969 398 15
3 Charles Reinhart Co.* 663.9 518.9 2,828 170 7
4 Century 21 Town & Country 427.1 372.8 2,937 278 7
5 Howard Hanna 402.3 359.9 3,010 158 10
6 Re/Max Classic 397.2 323.1 3,011 109 4
7 Hall & Hunter Realtors 366.2 282.2 1,257 78 1
8 Re/Max Platinum 347.7 272.5 2,314 174 5
9 SKBK Sotheby’s International Realty 317.4 282.0 623 88 1
10 Keller Williams Realty Novi/Northville 266.7 183.0 1,663 165 2
11 Century 21 Today Inc. 236.7 201.4 1,233 208 4
12 Real Estate Affiliates Keller Williams WB & Commerce 221.1 217.8 1,626 206 2C
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Coldwell Banker Weir Manuel
Greenridge Realty, Inc.
Coldwell Banker Hubbell BriarWood
Keller Williams Realty of Grand Rapids
RE/MAX Classic
Century 21 Town & Country
Charles Reinhart Company*
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Distribution of Home SalesIn our current market, the type of home that is selling has shifted from the traditional profile of the past 20 years.
It is important to understand where your
home fits into the overall market activity.
Although traditional owner-occupied
homes make up the bulk of current homes
available for sale, about a third of these
Home sales continue to follow an upward trend that began in the fall of 2012.
Web activity dipped a bit in the spring but has recovered bringing strong momentum
into 2014.
We have seen weather related declines in property showings and sales, however website
activity remains strong, showing that the buyers are still there waiting for the weather
to break.
Views and Visits
R E A L E S TAT E O N E . C O M | M A X B R O O C K . C O M | J J R E A LTO R S . C O M | R E I N H A R T R E A LTO R S . C O M
2005 2008 2013
91.5% RETAIL
22% RETAIL 63%
RETAIL
30% SHORTSALE
12% SHORT SALE
30% BANKOWNED
15% BANKOWNED
LEASES 5%BANK OWNED 2.5%SHORT SALE 1%
10% LEASES
18% LEASES
The Luxury MarketLuxury home sales and values jumped to a 7-year high across Southeast Michigan.
Luxury home sales (those $500,000 and above) continue to follow the rest of the market
upward over the past year, reaching a seven-year peak in properties sold in 2013. The
rate of sales has been increasing while the number of homes for sale in the luxury
market has been declining. The result is an increasing absorption rate (see chart),
leading to value increases for most properties across Southeast Michigan.
2010 Q4 2011 Q2 Q4 2012 Q2 Q4 2013 Q2 Q4 2010 Q4 2011 Q2 Q4 2012 Q2 Q4 2013 Q2 Q4
0
100
200
300
400
500
600
2010 Q4 2011 Q2 2011 Q4 2012 Q2 2012 Q4 2013 Q2 2013 Q4
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
2010 Q4 2011 Q2 2011 Q4 2012 Q2 2012 Q4 2013 Q2 2013 Q4
20%
15
10
5
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Sales Absorption600
400
300
200
100
0
Homes Sold Average Cost per Square Foot n For Sale n Sold
$-‐
$50
$100
$150
$200
$250
2010 Q4 2011 Q2 2011 Q4 2012 Q2 2012 Q4 2013 Q2 2013 Q4
$250
200
150
100
50
0
Average Cost per Square Foot n For Sale n Sold
2010 Q4 2011 Q2 Q4 2012 Q2 Q4 2013 Q2 Q4
Homes Sold & Website Visitors
Homes Sold Website Visitors
-
1,000,000
2,000,000
3,000,000
4,000,000
-
5,000
10,000
15,000
20,000
25,000
30,000
Jan
Feb
Mar
Ap
r M
ay
Jun
Jul
Aug
Sept
O
ct
Nov
D
ec
Jan
Feb
Mar
Ap
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ay
Jun
Jul
Aug
Sept
O
ct
Nov
D
ec
Jan
Feb
Mar
Ap
r M
ay
Jun
Jul
Aug
Sept
O
ct
Nov
D
ec
Jan
Feb
Mar
Ap
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ay
Jun
Jul
Aug
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2009 2010 2011 2012 2013
transactions are still financially stressed
(bank owned, short sale or leases). Even
with the current inventory shortage,
condition and the right pricing tier are
the keys to maximizing your value.
Addison Twp./Leonard 77 -11.5% $267,000 24.2%Auburn Hills/Lake Angelus 212 6.5% $107,000 27.4%Berkley 388 7.5% $145,200 26.3%Beverly Hills 200 -9.1% $270,500 12.7%Bingham Farms Vlg. 19 -32.1% $320,000 19.0%Birmingham 556 -3.6% $389,500 32.0%Bloomfield Hills 98 5.4% $593,500 46.7%Bloomfield Twp. 819 0.0% $320,750 21.0%Brandon Twp. 176 2.3% $179,950 22.0%Clarkston 24 20.0% $176,000 2.9%Clawson 220 -5.6% $130,000 39.5%Commerce Twp. 662 19.7% $205,000 20.6%Davisburg/Springfield Twp. 162 -18.6% $218,000 25.3%Farmington 164 8.6% $134,461 16.9%Farmington Hills 1131 7.5% $180,000 24.4%Ferndale 532 1.3% $100,000 96.1%Franklin Vlg. 52 -1.9% $411,500 17.6%Groveland Twp. 58 11.5% $181,000 18.5%
Hazel Park 324 -16.3% $25,100 35.7%Highland Twp. 258 -3.0% $163,000 12.4%Holly Twp./Vlg. 190 2.2% $94,350 36.7%Huntington Woods 115 17.3% $270,000 16.3%Independence Twp. 556 -1.2% $225,000 37.4%Keego Harbor 47 2.2% $90,100 82.9%Lake Orion Vlg. 61 -26.5% $175,000 84.2%Larthup Vlg. 54 -35.7% $137,500 39.8%Lyon Twp 263 0.8% $311,425 23.6%Madison Heights 434 -7.5% $65,000 44.4%Milford Twp./Vlg. 240 16.5% $239,000 17.7%Novi/Novi Twp. 766 -1.9% $255,000 23.5%Oak Park 340 -14.1% $57,850 58.8%Oakland Twp. 317 17.4% $355,000 8.4%Orchard Lake Vlg. 32 18.5% $560,000 -5.9%Orion Twp. 489 5.2% $212,000 36.8%Ortonville Vlg. 21 10.5% $123,909 113.3%Oxford Twp./Vlg. 313 17.7% $208,000 24.2%
Pleasant Ridge 52 -5.5% $210,250 26.7%Pontiac 564 -5.1% $22,950 30.4%Rochester 210 14.1% $238,750 17.3%Rochester Hills 1049 17.6% $236,500 18.3%Rose Twp. 72 -2.7% $150,000 14.7%Royal Oak/Twp 1475 11.3% $163,000 25.4%South Lyon 244 32.6% $130,250 24.0%Southfield/Twp. 878 -15.5% $75,000 44.2%Sylvan lake 47 4.4% $148,000 30.4%Troy 1026 4.5% $224,000 21.1%Walled Lake 125 -2.3% $108,000 65.4%Waterford 1212 -5.4% $106,000 41.3%West Bloomfield 998 -4.3% $232,578 36.8%White Lake Twp. 402 8.9% $187,700 28.3%Wixom 154 17.6% $170,000 20.6%Wolverine Lake Vlg. 74 21.3% $125,000 32.8%
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
Changes in median values reflect both appreciation and shifts in types of homes purchased. A decline reflects a shift to lower priced homes not a decline in value.
* 4th quarter comparison
Insurance One has been serving
customers since 1972 and is a
full service, independent agency
representing eight excellent
insurance companies.
In 2013, Insurance One had
6,800 policies in force and
achieved a record of over
$7.5 million in premiums.
Capital Title Insurance Agency is
one of the largest in Michigan,
covering all 83 counties and the
8th largest real estate affiliated
title agency in the country.
They have been serving their
clients’ title and escrow needs
since 1975. In 2013, they closed
over 7,200 transactions.
John Adams Mortgage has been
in business since 1971 and is a
full service, Michigan owned
and operated mortgage lender
offering conventional, jumbo,
FHA, and USDA loans.
John Adams Mortgage is one of
the top FHA & MSHDA lenders
in the state.
johnadamsmortgage.comCustomer Care: 248.684.5581
insone.com248.263.0080
capitaltitle.net800.851.8329
CAPITALTITLEINSURANCE AGENCY
Since 1985, Relocation America
has supported families on
the move as a result of job
changes for both origination and
destination locations worldwide.
In 2013, Relocation America
had 398 initiations from 25
different companies.
relocationamerica.com248.851.2600
Rental Management One (RMO)
is a highly progressive property
management firm servicing
multifamily and single family
portfolios throughout Michigan.
RMO maintains offices in over
35 locations in Michigan
including Southfield, Traverse
City, Troy, Lansing and Grand
Rapids as well as the Reinhart
property management program
in Washtenaw County.
rentalmanagementone.com248.208.3992
oakland county
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
0
2
4
6
8
10
12
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
$-‐
$10
$20
$30
$40
$50
$60
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
1
2
3
4
5
6
7
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
oakland county
Median value changes reflect both the change in home value as well as the change in the type of homes purchased in that area. They should not generally be interpreted as the true value change in any given market. Source: RealComp II, MIRealSource, Ann Arbor MLS
Cumulative Days on Market
Average Price Per Square Foot
Months Supply of Inventory
$1-100,000 above $100,000
Odds of a home sale after 90 days: 20% Odds of a home sale after 90 days: 17%
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 20124th Quarter 2013 vs 2012
0
20
40
60
80
100
120
140
160
180
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
Months supply computed with a seasonal multiplier.
In a Seller’s market, Buyers must still be willing to act quickly with a strong offer. For sellers, gauge your negotiating strength by the number of showings you are getting.
Watch market conditions. Normal markets tend to be a short term transition towards either a buyer or seller market. Reevaluate your marketing strategy and price every 30 days.
In a Buyer’s market, balance the best combination of price and terms to insure your house is sold in an acceptable timeframe. If there is an 18-month supply of homes, make sure your home sells in month 1 not month 18.
OAKLAND COUNTY market inventory report detail | oct-dec 2013
*Buyer’s Market No sales this period in area and price range.
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
65%
70%
75%
80%
85%
90%
95%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
above $100,000
Median value changes reflect both the change in home value as well as the change in the type of homes purchased in that area. They should not generally be interpreted as the true value change in any given market. Source: RealComp II, MIRealSource, Ann Arbor MLS
Average Price Per Square Foot
Months Supply of Inventory
$1-100,000 above $100,000
Cumulative Days on Market
0
20
40
60
80
100
120
140
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
5
10
15
20
25
30
35
40
45
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 20124th Quarter 2013 vs 2012
Odds of a home sale after 90 days: 13% Odds of a home sale after 90 days: 14%
0
1
2
3
4
5
6
7
8
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
1
2
3
4
5
6
7
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
macomb county
Armada Twp./Vlg 54 -1.8% 154200 57.3%Bruce Twp. 50 -25.4% 231750 17.6%Center Line 85 -15.0% 43750 35.7%Chesterfield Twp. 633 8.6% 150000 27.1%Clinton Twp. 1193 -5.0% 110000 43.1%Eastpointe 618 -11.6% 39900 47.5%Fraser 185 2.2% 89000 18.7%Harrison Twp. 367 4.9% 120850 34.3%Lenox Twp. 34 21.4% 166350 14.7%Macomb Twp. 1086 0.3% 229900 12.3%Mt. Clemens 231 19.1% 40500 28.6%New Baltimore 182 -2.2% 164350 17.4%New Haven 75 33.9% 98000 15.3%
Ray Twp. 45 50.0% 231300 21.7%Richmond/Richmond Twp. 138 15.0% 121000 21.0%Romeo 43 -8.5% 123000 13.4%Roseville 747 -9.3% 45000 45.2%Shelby Twp./Utica 950 12.4% 175000 9.4%St. Clair Shores 1084 -4.3% 84000 29.2%Sterling Heights 1324 6.5% 139700 20.4%Warren 1809 -0.6% 68000 41.5%Washington Twp. 289 8.2% 250000 19.0%
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
Months supply computed with a seasonal multiplier.
In a seller’s market, buyers must still be willing to act quickly with a strong offer. For sellers, gauge your negotiating strength by the number of showings you are getting.
Watch market conditions. Normal markets tend to be a short term transition towards either a buyer or seller market. Reevaluate your marketing strategy and price every 30 days.
In a buyer’s market, balance the best combination of price and terms to insure your house is sold in an acceptable timeframe. If there is an 18-month supply of homes, make sure your home sells in Month 1 not Month 18.
*Buyer’s Market No sales this period in area and price range.
Changes in median values reflect both appreciation and shifts in types of homes purchased. A decline reflects a shift to lower priced homes not a decline in value.
* 4th quarter comparison
MACOMB COUNTY market inventory report detail | oct-dec 2013
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
40%
50%
60%
70%
80%
90%
100%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
0
2
4
6
8
10
12
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
1
2
3
4
5
6
7
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
$-‐
$20
$40
$60
$80
$100
$120
$140
$160
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
Number of Homes Sold
Median value changes reflect both the change in home value as well as the change in the type of homes purchased in that area. They should not generally be interpreted as the true value change in any given market. Source: RealComp II, MIRealSource, Ann Arbor MLS
DEC 10 FEB 11 APR 11 JUN 11 AUG 11 OCT 11 DEC 11 FEB 12 APR 12 JUN 12 AUG 12 OCT 12 DEC 12
Average Price Per Square Foot
Months Supply of Inventory
$1-100,000 above $100,000
Cumulative Days on Market
Odds of a home sale after 90 days: 29% Odds of a home sale after 90 days: 27%
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012
$-‐
$10
$20
$30
$40
$50
$60
$70
$80
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
4th Quarter 2013 vs 2012
livingston county
Brighton 157 -4.8% 154000 5.1%Brighton Twp. 321 18.0% 241900 21.4%Cohoctah Twp. 42 20.0% 130000 14.6%Conway Twp. 47 0.0% 136000 18.3%Deerfield Twp. 43 -12.2% 147900 -6.3%Fowlerville Vlg. 26 -33.3% 94950 32.1%Genoa Twp. 311 -5.5% 195000 8.3%Green Oak Twp. 255 -3.4% 205000 13.9%Hamburg Twp. 359 0.0% 206000 21.2%Handy Twp. 85 25.0% 128000 36.9%Hartland Twp. 195 3.2% 185000 5.7%Howell 141 -7.2% 133500 30.9%
Howell Twp. 139 17.8% 125350 30.9%Iosco Twp. 46 4.5% 165894 44.3%Marion Twp. 216 45.0% 180000 8.3%Oceloa Twp. 222 6.7% 180000 15.8%Pinckney Twp. 47 9.3% 135000 24.0%Putnam Twp. 96 -2.0% 175125 21.1%Stockbridge/Stockbridge Twp. 38 -22.4% 117500 75.4%Tyrone Twp. 132 5.6% 199500 13.4%Unadilla Twp. 55 -1.8% 150000 94.4%
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
Months supply computed with a seasonal multiplier.
In a seller’s market, buyers must still be willing to act quickly with a strong offer. For sellers, gauge your negotiating strength by the number of showings you are getting.
Watch market conditions. Normal markets tend to be a short term transition towards either a buyer or seller market. Reevaluate your marketing strategy and price every 30 days.
In a buyer’s market, balance the best combination of price and terms to insure your house is sold in an acceptable timeframe. If there is an 18-month supply of homes, make sure your home sells in Month 1 not Month 18. *Buyer’s Market
No sales this period in area and price range.
Changes in median values reflect both appreciation and shifts in types of homes purchased. A decline reflects a shift to lower priced homes not a decline in value.
* 4th quarter comparison
LIVINGSTON COUNTY market inventory report detail | oct-dec 2013
40%
50%
60%
70%
80%
90%
100%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
40%
50%
60%
70%
80%
90%
100%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
0
1
2
3
4
5
6
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
20
40
60
80
100
120
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
Median value changes reflect both the change in home value as well as the change in the type of homes purchased in that area. They should not generally be interpreted as the true value change in any given market. Source: RealComp II, MIRealSource, Ann Arbor MLS
Cumulative Days on Market
Average Price Per Square Foot
Months Supply of Inventory
$1-200,000 above $200,000
Odds of a home sale after 90 days: 20% Odds of a home sale after 90 days: 21%
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 4th Quarter 2013 vs 2012
0
20
40
60
80
100
120
140
160
180
200
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
2
4
6
8
10
12
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
washtenaw county
Ann Arbor Condo 588 -4.5% 160,000 23.1%Ann Arbor Residential 1292 1.7% 271,205 14.0%Chelsea 199 0.0% 230,000 24.3%Dexter 321 5.9% 270,000 10.7%Grass Lake 53 1.9% 189,000 13.5%Manchester 93 36.8% 167,000 12.5%Milan 94 -34.7% 133,450 34.5%
Pinckney 409 -4.9% 190,100 18.8%Saline 369 6.6% 280,000 8.3%Ypsilanti 331 -6.2% 97,500 50.0%
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
Months supply computed with a seasonal multiplier.
In a seller’s market, buyers must still be willing to act quickly with a strong offer. For sellers, gauge your negotiating strength by the number of showings you are getting.
Watch market conditions. Normal markets tend to be a short term transition towards either a buyer or seller market. Reevaluate your marketing strategy and price every 30 days.
In a buyer’s market, balance the best combination of price and terms to insure your house is sold in an acceptable timeframe. If there is an 18-month supply of homes, make sure your home sells in Month 1 not Month 18. *Buyer’s Market
No sales this period in area and price range.
Changes in median values reflect both appreciation and shifts in types of homes purchased. A decline reflects a shift to lower priced homes not a decline in value.
* 4th quarter comparison
WASHTENAW COUNTY market inventory report detail | oct-dec 2013
CO
ND
O
RES
IDEN
TIA
L
40%
50%
60%
70%
80%
90%
100%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
65%
70%
75%
80%
85%
90%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
0
1
2
3
4
5
6
7
8
9
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
20
40
60
80
100
120
140
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
5
10
15
20
25
30
35
40
45
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
Median value changes reflect both the change in home value as well as the change in the type of homes purchased in that area. They should not generally be interpreted as the true value change in any given market. Source: RealComp II, MIRealSource, Ann Arbor MLS
Cumulative Days on Market
Average Price Per Square Foot
Months Supply of Inventory
$1-100,000 above $100,000
Odds of a home sale after 90 days: 21% Odds of a home sale after 90 days: 18%
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 4th Quarter 2013 vs 2012
0
2
4
6
8
10
12
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
wayne county
Belleville 50 -19.4% 101,500 21.8%Canton 1394 9.6% 195,000 22.6%Dearborn 1128 -16.0% 85,000 39.3%Dearborn Hgts 932 -13.4% 63,560 38.2%Garden City 449 -15.8% 63,000 50.0%Huron Twp. 156 9.9% 136,250 23.8%Inkster 223 -18.6% 16,950 30.4%Livonia 1612 3.1% 135,000 26.2%Northville/Northville Twp. 514 -11.4% 340,000 10.7%Plymouth/Plymouth Twp. 581 2.1% 237,500 30.1%Redford 124 -90.0% 48,500 51.6%Romulus 252 -10.0% 55,000 19.5%
Sumpter Twp. 101 -12.2% 95,611 5.1%Van Buren 21 -94.8% 105,100 -1.7%Wayne 221 -14.0% 41,017 41.4%Westland 1136 -10.2% 77,000 54.0%
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
Months supply computed with a seasonal multiplier.
In a seller’s market, buyers must still be willing to act quickly with a strong offer. For sellers, gauge your negotiating strength by the number of showings you are getting.
Watch market conditions. Normal markets tend to be a short term transition towards either a buyer or seller market. Reevaluate your marketing strategy and price every 30 days.
In a buyer’s market, balance the best combination of price and terms to insure your house is sold in an acceptable timeframe. If there is an 18-month supply of homes, make sure your home sells in Month 1 not Month 18. *Buyer’s Market
No sales this period in area and price range.
Changes in median values reflect both appreciation and shifts in types of homes purchased. A decline reflects a shift to lower priced homes not a decline in value.
* 4th quarter comparison
WAYNE COUNTY market inventory report detail | oct-dec 2013
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
65.00%
70.00%
75.00%
80.00%
85.00%
90.00%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
0
2
4
6
8
10
12
14
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
5
10
15
20
25
30
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
$-‐
$2
$4
$6
$8
$10
$12
$14
$16
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
Median value changes reflect both the change in home value as well as the change in the type of homes purchased in that area. They should not generally be interpreted as the true value change in any given market. Source: RealComp II, MIRealSource, Ann Arbor MLS
Cumulative Days on Market
Average Price Per Square Foot
Months Supply of Inventory
$1-50,000 above $50,000
Odds of a home sale after 90 days: 21% Odds of a home sale after 90 days: 29%
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 4th Quarter 2013 vs 2012
$-‐
$10
$20
$30
$40
$50
$60
$70
$80
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
city of detroit
40%
50%
60%
70%
80%
90%
100%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
0
1
2
3
4
5
6
7
8
9
10
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
1
2
3
4
5
6
7
8
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
20
40
60
80
100
120
140
160
180
200
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
5
10
15
20
25
30
35
40
45
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
Number of Homes Sold
Median value changes reflect both the change in home value as well as the change in the type of homes purchased in that area. They should not generally be interpreted as the true value change in any given market. Source: RealComp II, MIRealSource, Ann Arbor MLS
Cumulative Days on Market
Average Price Per Square Foot
Months Supply of Inventory
$1-150,000 above $150,000
4th Quarter 2013 vs 2012n For Sale n Sold
4th Quarter 2013 vs 2012 n For Sale n Sold
Odds of a home sale after 90 days: 17% Odds of a home sale after 90 days: 28%
4th Quarter 2012 vs 2012 4th Quarter 2013 vs 2012
the grosse pointes
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
0
2
4
6
8
10
12
14
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
1
2
3
4
5
6
7
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
0
10
20
30
40
50
60
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
Median value changes reflect both the change in home value as well as the change in the type of homes purchased in that area. They should not generally be interpreted as the true value change in any given market. Source: RealComp II, MIRealSource, Ann Arbor MLS
Number of Homes SoldCumulative Days on Market
Average Price Per Square Foot
Months Supply of Inventory
$1-100,000 above $100,000
Odds of a home sale after 90 days: 21% Odds of a home sale after 90 days: 21%
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 n For Sale n Sold
4th Quarter 2013 vs 2012 4th Quarter 2013 vs 2012
0
20
40
60
80
100
120
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
downriver
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13
% of H
OMES SOLD
< 90 DAYS
Allen Park 476 9.9% 78,500 24.6%Brownstown Twp. 364 -11.4% 153,725 28.1%Ecorse 59 -14.5% 11,529 53.7%Flat Rock 112 6.7% 90,500 1.7%Gibraltar 53 6.0% 134,900 46.6%Grosse Ile 35 -82.3% 270,000 58.8%Lincoln Park 566 -10.6% 36,050 44.2%Melvindale 115 -21.2% 32,500 40.3%River Rouge 41 -16.3% 9,900 41.4%Riverview 123 -13.4% 121,060 61.4%Rockwood 32 -36.0% 81,500 1.9%Southgate 407 -6.7% 70,000 22.9%
Taylor 782 -8.8% 45,000 38.5%Trenton 281 2.2% 110,000 35.0%Woodhaven 153 9.3% 109,900 3.9%Wyandotte 412 12.0% 69,555 45.7%
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng
Months supply computed with a seasonal multiplier.
In a seller’s market, buyers must still be willing to act quickly with a strong offer. For sellers, gauge your negotiating strength by the number of showings you are getting.
Watch market conditions. Normal markets tend to be a short term transition towards either a buyer or seller market. Reevaluate your marketing strategy and price every 30 days.
In a buyer’s market, balance the best combination of price and terms to insure your house is sold in an acceptable timeframe. If there is an 18-month supply of homes, make sure your home sells in Month 1 not Month 18. *Buyer’s Market
No sales this period in area and price range.
Changes in median values reflect both appreciation and shifts in types of homes purchased. A decline reflects a shift to lower priced homes not a decline in value.
* 4th quarter comparison
DOWNRIVER market inventory report detail | oct-dec 2013
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