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Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in West Bloomfield. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 248-752-3088

Average Home Price $150,000 - View Graph Trend
Average Price Compared to Last Year Down 15-20%
Average Time on Market More than 120 days
Best Selling Price Range$100,000 - $149,000
Worst Selling Price Range$300,000 - $349,000
Prices As % of Asking Price 80-85%
Existing Home Prices for the past 90 days are?Decreasing
Market Trend Decreasing
Buyers’ or Sellers’ Market More sellers than buyers
Buyer Activity for the past 90 days in West Bloomfield isDecreasing
Seller Activity for the past 90 days in West Bloomfield is?Decreasing
Multiple Offers?Yes
Multiple Offers CommentaryThe foreclosure and short sales are getting multiple offers and many times the sold price is coming in higher than the asking price.
What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?More than 50%
Is Financing Available For Qualified Buyers?Yes
Housing Inventory Good supply - Some Prices
Greatest Activity First Time Buyers
Reason to Buy/Sell Lower prices with good selection and competitive interest rates creates a perfect time to buy in West Bloomfield! There are many foreclosures and short sales that are amazing deals for Buyers. Private homes that are not short sales are also selling well and at decreased prices from a year ago.
Nearest Metro AreaDetroit
Housing Hot SpotsIf ever the time was ripe for Buyers to get great deals, it is now!!! There is a huge supply of homes on the market in every price range and the foreclosure market is amazing. So if you are a first time buyer, or a seller moving up, now is the right opportunity to buy your dream home in the Metropolitan Detroit area.
Average Sold Price $150,000 - View Graph Trend
West Bloomfield Local News

Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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Mortgage Rates
– Feb 8th, 2012 –
---------------------------------
 30 yr. fixed rate:     3.88%
 15 yr. fixed rate:     3.21%
  30 yr. jumbo rate:  4.64%
  15 yr. jumbo rate:  3.98%

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