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How Many Homes Sold in Commerce Michigan in 2007?

Commerce Township Michigan 2007 Home Sales

Price Statistics Legend of Sold Homes**

For the 299 listings:

For the 299 Sold listings:

Average List Price

$272,507.00

Average Sold Price

$248,155.00

Median List Price

$259,900.00

Median Sold Price

$240,000.00

Highest List Price

$740,500.00

Highest Sold Price

$670,000.00

Lowest List Price

$52,800.00

Lowest Sold Price

$1.00

Average Days on Market 143 Days

** Information based upon a search of Commerce Twp on Realcomp II LTD Multiple Listing Service, January 6, 2008. Information from all homes listed and sold by all real estate companies. Corrected 1/8/2007

Breaking down home sales for 2007 within Commerce and Commerce Twp Michigan: Of these sales 216 homes were not lakefront properties. Many homes in Commerce have lake privileges. 83 homes were waterfront homes which were those homes having property frontage bordering a lake, canal, or river. 62 of these homes were on area All-sport or those not having a no wake or no motorized watercraft designation with the State of Michigan. The remaining 21 homes were located on non all-sport waters.

Lakefront home sales increased as compared to 2006 home sales in Commerce and Commerce Twp Michigan. In 2006, there were 303 home sales total but only 39 waterfront home sales. Of the 39 waterfront home sales in 2006, 29 were located on all sport lakes.

Foreclosure and Short Sale Properties: These are relatively new fields so the numbers may be higher than indicated. In the last half of 2007 only 37 homes were indicated as foreclosure, short sale homes (deed in lieu), or corporate owned. Additional homes might be available searching listing agents remarks.

Currently, there are 361 homes for sale below $800,000 in Commerce and Commerce Twp (excluding Walled Lake and Wolverine Lake Village) (369 homes total) Although homes sold indicated an average of 160 Days on Market, market absorbency is a better indication how long it would take for all homes to sell if no additional homes entered the market. 299 homes selling during the past year, and 361 homes currently for sale, the market absorbency for the area is 14.5 months. Any value above 6 months is considered a Buyers Market.

Thinking of selling or purchasing a home in southeastern Michigan? No sign in search is available at
http://www.Mi-Living.com. Information about foreclosures and short sale homes is available by email upon request.

Posted Sunday Jan 06