February Average Selling Price Increases Nearly 20%

WASHINGTON, D.C. – March 19, 2013 – (RealEstateRama) — According to the MLS reports compiled by the Michigan Association of REALTORS®, 85% of reporting units reported an increase in average selling price from Feb 2013 to Feb 2012; statewide the average selling price increased by a whopping 19.19%. As inventory tightens however, 7,979 single family homes were sold in Michigan in February 2013, a decrease of 4.97% over February 2012.

Key Statistics:

$106,258 – 2013 average sales price, YTD
16,412 – 2013 single family units sold, YTD
$1.74 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 February Housing Statistics