March Average Selling Price Reported at Over 20%

WASHINGTON, D.C. – May 2, 2013 – (RealEstateRama) — According to the MLS reports compiled by the Michigan Association of REALTORS®, 95% of reporting units reported an increase in average selling price from Mar 2013 to Mar 2012; with 17 locals reporting an increase at/near 20+%. Statewide the average selling price increased by 20.71%. With inventory still being an issue however, 10,114 single family homes were sold in Michigan in March 2013, a decrease of 2.39% over March 2012.

Key Statistics:

$111,020 – 2013 average sales price, YTD
26,526 – 2013 single family units sold, YTD
$2.94 billion – 2013 total sales volume, YTD

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

Click here for 2013 March Housing Statistics