RE/MAX of Southeastern Michigan

Detroit, MI (Real Comp)

Market Trend RE/port

August 2012

September 14, 2012

August Highlights 2012 vs. 2011

For Detroit, MI comparing 2011 to 2012 there are . . .

• 279 more Properties sold than this time last year• Listings have been selling 5 days faster in 2012• 27% more listings under contract compared to August 2011• 40% less listings for sale in 2012• Average sales price has increased in 2012 by 10% or $9,100• 187% less monthly supply of inventory in 2012

• Inventory is dropping and prices are going in the right direction!

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Number of Units Sold

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Days on Market

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Pending Listings (Under Contract)

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Number of Listings For Sale

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Average Sales Price

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Monthly Supply of Inventory (Under Contract)

Data provided by Terradatum.  The above representation is based in whole or in part on data from the local Multiple Listing Service for the time period indicated.  RE/MAX, the Multiple Listing Service, and the member Associations of REALTORS do not guarantee or are in any way responsible for the data accuracy.