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| Metro Detroit
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$115,250
Up by 35.6%
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3,693
Down by 15.0%
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$85,000
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4,347
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Analysis:
• All MLS sales for the month were down by 13.9% from 5,468 to 4,710.
• The median sale price for All MLS sales was up 33.7% from $86,000 to $115,000.
• Average Days On-Market (DOM) for All MLS decreased by 19 days, from 78 to 59.
Synopsis of Inventory (03-14 vs. 03-13):
• On market inventory declined by approximately 9.34%, from 20,488 to 18,574.
• Approximately 4.3% of the on-market inventory is comprised of properties identified as short sales.
• Approximately 11.3% of the on-market inventory is comprised of properties identified as foreclosures.
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