Oxford Lakes, Oxford MI- More Distressed Sales But Prices Still Stabilizing

Oxford Lakes, Oxford MI- More Distressed Sales But Prices Still Stabilizing

In 2010 there were quite a few more sales in Oxford Lakes than in 2009, but there were also more distresses sale - short sales and foreclosures. In 2009 foreclosures and short sales made up 44% of the total sales in Oxford Lakes and in 2010 they made up 65% if the total sales. But despite the fact there were quite a few more bank owned and short sales the prices seemed to be a bit higher than last year.

2010 unit sales - 23
2009 unit sales - 18

10 bank owned and 5 short sales in 2010
7 bank owned and 1 short sale in 2009

In 2010 sale prices ranged from $119,178 - $350,000
In 2009 sale prices ranged from $77,900 - $400,000

2010 there were 6 lakefront sales (Oxford Lake) ranging from $135,000 - $350,000
2009 there were 3 lakefront sales (Oxford Lake)- $242,000, $300,000 and $400,000

2010 there were no sales under $100K, 2 in the $120's, 5 in the $130's, 1 for $140K, 6 between $150K and $200K, 6 in the $200's

2009 there was 1 sale under $100K, 3 in the $120's, 2 in the $130's, 3 in the $140's, 3 in the $150's and none from $160K and $200K, 3 in the $200's

Detailed chart of Oxford Lakes home sales with addresses, sale type, etc.

There are currently 5 sales pending in Oxford Lakes and 4 active listings for sale ranging in asking price from $124,900-$324,900.

Some of the Oxford Lakes sales in 2010 were half what they had sold for 5 or 10 years ago. 730 Lakes Edge, for example, is a lakefront home that recently sold for $177,000; it sold for $410,000 in 2003. 867 Bay Pointe Dr sold for $255,000 in 2010 and had sold for $450,000 in 2000.

Some of these houses were in pretty rough shape. Some were in move in condition. Many of the houses that sold in Oxford Lakes in 2010 were over 2000 sq. ft., 3 or 4 bedrooms, 2+ baths, basements and attached garages.

Oxford Lakes is located in the Village of Oxford MI and boasts 2 parks- 1 2 acre children's park and a 6 acre park with a basketball court, 2 regulation size tennis courts, volleyball court, picnic tables, grills, gazebo, sandy beach and private boat launch. Oxford Lake is about 115 acres of very clean water- electric motors allowed. This spring fed, ex-gravel pit lake has been stocked with bluegill, bass, walleye and trout. And because it used to be a gravel pit, the lake is fairly deep, clean and most of the lakefront homes have sandy beaches.

Oxford Lakes boasts many amenities such as sidewalks, community water and sewer, entrances onto 2 main roads, close to schools, and easy access to expressways.

Right now is a great time to purchase a home in Oxford Lakes- while many are selling for less than they had in the mid nineties and while interest rates are super low. Oxford MI is in the approved area for Rural Development mortgages which allow qualifying buyers to purchase with zero money into the transaction.

Please contact me for more information about your Oxford Lakes home purchase

Jackie Hawley
Keller Williams Realty

cell: (248)736-6407

Jackie@JackieHawley.com

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