Mike Mitchell - REALTOR® - St. Clair Shores, MI

February 2nd, 2012

HAPPY GROUNDHOG DAY Everyone!

Well, not sure how acurate Punxsutawney Phil's forecasts are, but this morning he did emerge and see his shadow, and predicts 6 more weeks of winter. Of course this winter has been extremely mild so far, so if it's 6 more weeks of this, it won't be so bad.

I still love the movie Groundhog Day with Bill Murray. I actually just saw it again on cable last week. Classic!

Groundhog Fun Facts

Real estate talk:

• 2012 market activity is off to a good start!
• Inventory is down, good sign!
• My January real estate market report should be posted tomorrow.

Ready to start shopping for a home? Sign up for a FREE Listingbook account and search St. Clair Shores Homes For Sale and Macomb County Homes For Sale now.

Thinking of selling your home this spring? Want to know what your Macomb County Home is Worth? Contact me for a free Market Analysis. No pressure, No obligation.

Did you have your St. Clair Shores home on the market in 2011?

Did your Listing expire?

The following homes all closed in St. Clair Shores in the first 2 weeks of 2012!

Homes are selling and inventory is lower than it has been in the Shores, especially for private sales (not bank owned or short sales). If you would like to put your St. Clair Shores home on the market this spring, I'd love the opportunity to talk to you! NO PRESSURE, NO OBLIGATION!

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. Rental properties were not included in stats.

I've had a lot of buyers sign up for a Free Listingbook account in 2012 already, to search St. Clair Shores Homes For Sale and Macomb County Homes For Sale.

With interest rates still at record lows as well as house values very affordable, many are taking advantage and looking to purchase a home in 2012! Inventory is not as high as it once was, so staying informed of new listings and price changes is very important. Listingbook will keep you informed!

Benefits of having your own Listingbook Account:

• Search on your own personal web site just like I do!
• Make an informed decision using the most efficient, effective, and satisfying home buyer search available
• Easily access interactive maps, loan data, school info, photos, virtual tours, and property details for any property in the market
• Rate properties, whether favorites or rejects, save valuable time instead of constantly sifting through properties
• Make personal notes on properties to easily remember important details
• Stay on top of important information matching your criteria. New listings, open houses, and price changes are always delivered to you in your Morning updates.
• My expertise is only a click away using easy messaging or interactive notes.

The month of December, 2011 finished off with 53 closings!

Looking back at the whole year there were 867 single family homes that closed in St. Clair Shores in 2011. I went ahead and figured out the absorbtion rate for the past 12 months and there is currently a 2.75 months supply of homes on the market in St. Clair Shores. This current absorbtion rate shows that the market is becoming more of a balanced market.

The average sale price for November was $59,860 and the average List Price was $64,679.

Here's a break down of the 53 homes that closed in various price ranges to give you an idea.

SOLD PRICE RANGE NUMBER OF CLOSINGS

$0 - $50,000 22

$51,000 - $100,000 24

$100,001 - $150,000 6

$151,000 - $200,000 1

$201,000 - $250,000 0

$251,000 - $300,000 0

$300,001 + 0

Of the 63 homes that closed:

• 20 were Bank Owned Foreclosures
• 6 were Short Sales

If you would like more information on St. Clair Shores Real Estate or the surrounding Macomb County Real Estate Market, give me a call or email and I'd be happy to assist you. Want to know what your St. Clair Shores Home is Worth? Contact me for a free Market Analysis. No pressure, No obligation.

To start searching for homes for sale, sign up for a free Listingbook account.

More Real Estate Posts:

Top 10 Reasons To Use MY Preferred Lender

Highest and Best! What's That?

What's an EMD?

I've Already Moved Out of State, Do I have to Come Back for the Closing?

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. Rental properties were not included in stats.

If you would like more information on St. Clair Shores Real Estate or the surrounding Macomb County Real Estate Market, give me a call or email and I'd be happy to assist you. Want to know what your St. Clair Shores Home is Worth? Contact me for a free Market Analysis. No pressure, No obligation.

To start searching for homes for sale, sign up for a free Listingbook account.