Saint Clair Shores Real Estate Market Report ~ October, 2009

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

ST. CLAIR SHORES REAL ESTATE MARKET REPORT FOR OCTOBER - HOMES

There were 64 single family homes that closed in October. One positive thing that I noticed with the past month was bank owned homes made up only 31% of the sales! That is encouraging considering they made up 50 - 75% of the sales earlier in the year.

The official last day for the first time buyer tax credit is still November 30th. The last I heard, the extension for the tax credit has passed the senate but still had to be voted on by the house and signed by the president. Although it looks promising for an extension, anything could still happen.

Saint Clair Shores Real Estate Market Report ~ September, 2009

Saint Clair Shores Real Estate Market Report ~ August, 2009

Saint Clair Shores Real Estate Market Report ~ July,2009

Saint Clair Shores Real Estate Market Report ~ June,2009

October Statistics

• There were 64 home sales that closed in October
• The average list price was $80,145
• The highest list price was $334,900 & the lowest was $27,900
• The average sale price of those 64 transactions was $75,186
• The average current days on the market was 61
• The average total days on the market was 166
• Number of canal front homes closed 2
• Number of lake front homes closed 1
• Number of bank owned homes closed 20

Selling Price # of homes

• under $50k - 18
• $50k - $100k - 36
• $101k - $150k - 7
• $151k - $200k - 2
• $200k - $300k - 1
• $400k - $500k - 0
• $500k - $600k - 0

ST. CLAIR SHORES MARKET REPORT FOR OCTOBER - CONDOMINIUMS

• There were 7 condos that closed in October, equal to Septembers sales
• Average list price of those 7 condos was $42,471
• The average sale price of those 7 closed condos was $37,000
• Average current days on the market 127
• Of the 7 sales, list prices ranged from $20,000 to $89,900. There were no high end units sold causing the monthly avg. sale price to drop from previous months. In fact, 4 of them sold for under $30,000

The buyers market continues, which makes it a great time to purchase a home or condo in St. Clair Shores. As of November 3rd, there are currently 336 single family homes for sale ranging in price from as low as $18,000 investor specials to lake front homes just over 1 million. Of those homes on the market 09% or 32 of them are bank owned. 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 at record lows and there are some great FHA loans available for those that need a lower down payment. In addition there is a 2009 tax credit up to $8,000 for First Time Buyers!

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

If you'd like to start looking for homes and take advantage of this buyers market in S.E. Michigan sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!

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

http://www.mmhomesearch.com/