Year end results are in for '06

Well, it doesn't take but a look at the news lately to know that the real estate market has been a little rough this year. MCAR publishes stats monthly from the MLS, and here's what it looked like for FY '06 as compared to '05.

Oakland county listings are up 22 %, total sold units are down 22 %. That equates to a buyers market and declining prices. Total sales volume is down about 25 %.

There is no total available for median sales price drops for Oakland, but Troy was down 2 %, Rochester Hills was down almost 7 %, Hazel Park was down 14 %.

I like to temper the bad news with a little good though... Bloomfield Hills average price increased 27 %, Addison Twshp, was up almost 9 %, and Rochester was up almost 15 %.

A look at Macomb County shows similar results...

Macomb lisitngs are up 15 %, Total sold units are down 23 %. Total sales volume is down almost 30 %, and the average selling price is down almost 6 % over '05.

Poor performers in average sales volume were Washington Twshp., down 9 %, Warren down
9 %, Sterling heights down 9 %, Shelby/Utica down 12 %.

Only three communities showed an increase... Armada, Harrison Twshp., and Lenox.

Check out the next blog to see what the experts are saying about 2007. Thank goodness a new year.