St. Clair Shores Real Estate Market Report - March 2008

ST. CLAIR SHORES REAL ESTATE MARKET REPORT - March 2008

If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation.

The weather is finally breaking, the St. Clair Shores real estate market has been holding steady for the last few months. Total number of sales for March was down only 1 from February. I'm optimistic that April and May should be picking up.

 ST. CLAIR SHORES MARKET REPORT FOR MARCH - HOMES                                                       

• There were 34 home sales that closed in March                                                            
• The average list price was $105,542
• The highest list price was $204,900 & the lowest was $37,900
• The average sale price of those 34 transactions was $100,790
• The average total days on the market was 200
• 47 homes went under contract and are marked pending for the month of March.

 Of those 34 closed transactions, 17 were bank owned & 1 was newer construction (built in 2006). While it is tuff to see some of the bank owned homes selling real cheap and bringing values down, I am glad to see them to continue to sell. The sooner the inventory goes down, the sooner the market can start to recover.

          ST. CLAIR SHORES MARKET REPORT FOR MARCH - CONDOMINIUMS 

• There were NO condos that closed in March. I was surprised at first, but looking back at my St. Clair Shores market report for February, there were no condos that went under contract in February. There were 6 condos that went under contract in March though!

This current buyers market makes it a great time to purchase a home or condo in St. Clair Shores. As of April 1st there are currently 632 single family homes for sale (no this isn't an April Fools joke) ranging in price from as low as $39,900 investor specials to waterfront homes over $1 million. There are many homes to choose from, no matter what your price range, now is the time to take advantage of this market, prices will not remain this low forever. Interest rates are still low and there are some great FHA loans for those that want to put little or nothing down.

For more info on the St. Clair Shores Real Estate market, contact Mike Mitchell,REALTOR ®

PRICES HAVE NOT BEEN THIS LOW IN YEARS, GREAT OPPORTUNITIES,

CALL MIKE @ 586-291-2652

 Mike Mitchell - REALTOR ®                                                                 
 GMAC The Kee Group
 Direct: (586)291-2652

 http://www.mmhomesearch.com/

Information deemed to be reliable but not guaranteed. Information taken from MiRealSource multiple listing service. Above sales were sold by agents and/or brokers. These statistics do not include for sale by owners.