Farmington Hills Real Estate Market Conditions & Reports, Farmington Hills Market Trends, Michigan

Market Commentary Provided by Lynn Fink

Report Date

Winter 2010

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CONNECT WITH A LOCAL PROFESSIONAL

Lynn Fink
Keller Williams Real Estate
Farmington Hills, Michigan
248-421-2738
lynnfinkrealtor@aol.com
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Nearest Metro Area

Buyers’ or Sellers’ Market

More sellers than buyers

Average Time on Market

More than 120 days

Market Trend

Increasing

Housing Inventory

Good supply - Some Prices

Average Home Price

$400,000 - View Graph Trend

Best Selling Price Range

Worst Selling Price Range

Compared to Last Year

Up 10-15%

Prices As % of Asking Price

90-95%

Multiple Offers?

Yes

Greatest Activity

Repeat Buyers

Buyer Activity for the past 90 days in Farmington Hills is

Seller Activity for the past 90 days in Farmington Hills is

Is Financing Available For Qualified Buyers in Farmington Hills?

Existing Home Prices for the past 90 days are

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

Housing Hot Spots

Birmingham, Royal Oak, Rochester, Gross Pointe

Reason to Buy/Sell

Other

Average Sold Price

$400,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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