New Year Brings Nearly 10% Jump in Home Sales and Average Sales Price

WASHINGTON, D.C. – March 6, 2013 – (RealEstateRama) — According to the MLS reports compiled by the Michigan Association of REALTORS®, January total sales volume increased, while the average selling price of single-family homes in Michigan rose compared to the same time last year. According to the report, 8,433 single family homes were sold in Michigan in January 2013, an increase of 8.90% over January 2012. The January 2013 average sales price was $105,059, a 9.06% increase over January 2012. Seventy-three percent of reporting units showed an increase in total sales with eleven locals reporting an increase in average selling price of at/near 20%+.

Key Statistics:

$105,059 – 2013 average sales price, January
8,433 – 2013 single family units sold, January
$886 million – 2013 total sales volume, January

Monthly housing statistics for MAR are reported by participating Michigan REALTOR® local boards and associations.

Click here for 2013 January Housing Statistics