St. Clair Shores Real Estate Market Report - June 2008

ST. CLAIR SHORES REAL ESTATE MARKET REPORT - JUNE 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 summer selling season continues! I'm happy to report that 56 homes closed in June slightly up from 54 in May and 52 in April.

ST. CLAIR SHORES MARKET REPORT FOR JUNE - HOMES

• There were 56 home sales that closed in June
• The average list price was $113,254
• The highest list price was $299,900 & the lowest was $29,900
• The average sale price of those 54 transactions was $107,992
• The average total days on the market was 203
• 56 homes went under contract and are marked pending for the month of June.

Of those 56 closed transactions, 19 were bank owned & there were 3 canal front homes that closed.

If you've seen my previous monthly market reports, the bank owned homes have made up 50% of the monthly sales, sometimes a little higher. Only 34% of Junes sales were bank owned homes! The average sale price is up just over $1,000 and sales continue to be steady. All of these are signs, however small, of a recovery, in my humble opinion.

ST. CLAIR SHORES MARKET REPORT FOR JUNE - CONDOMINIUMS

• I am happy to report that there were 7 condos that closed in June, equal to Mays amount.
• The average list price was $148,086
• The highest list price was $399,900 & the lowest was $56,500
• The average sale price was $136,071
• The average current days on the market was 182
• There were 7 more condos that went pending in June

This current buyers market makes it a great time to purchase a home or condo in St. Clair Shores. As of July 2nd there are currently 672 single family homes for sale ranging in price from as low as $35,000 investor specials to waterfront homes well 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, IT IS A GREAT TIME TO BUY A HOUSE!

If you'd like to start looking for homes and take advantage of this buyers market in S.E. Michigan sing up for a free Listingbook account and search 1,000s of homes.

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. Selling prices did not include any sellers concessions.