November 22, 2012 – (RealEstateRama) — According to the MLS reports compiled by the Michigan Association of REALTORS®, overall October total sales volume increased considerably, while average sales price of single-family homes in Michigan continued to rise compared to the same time last year. According to the report, 11,434 single family homes were sold in Michigan in October, 2012, an increase of 22.58% over October, 2011.
The October 2012 average sales price was $114,757, a 2.71% increase over October 2011. Ninety percent of reporting units showed an increase in total sales with eleven locals reporting an increase in sales of 40%+, while 73% reported an increase in average selling price compared to this time last year. Key Statistics: $110,384 – 2012 average sales price, YTD 105,100 – 2012 single family units sold, YTD $11.6 billion – 2012 total sales volume, YTD Monthly housing statistics for MAR are reported by participating Michigan REALTOR® local boards and associations. Click here for 2012 October Housing Statistics
