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Macomb County MI real estate blog

Chesterfield Township and New Baltimore homes are seeing a price increase! A Macomb County MI real estate market report

June 25th, 2012 · 1 Comment · Macomb County MI real estate market report, tips for home buyers, tips for home sellers

For the past several months I have been seeing a bit of a turnaround in the real estate market in Macomb County, mainly in several northern communities.  2 of them, in our Anchor Bay area,  have really shown signs of improvement:

Number of homes on the market is dropping
“Sold” prices increasing steadily
The “days on the market” decreasing

I was curious this morning as to how the statistics look for Chesterfield Township and New Baltimore, and to see if they line up to practical experiences that I and my home buyers have been having (fewer homes to view, and higher asking prices).    What I saw when I analyzed the data from Realcomp II Ltd did not surprise me.   It validated what we (my buyer clients and I) have been seeing:

The above graph represents homes sold in those 2 areas for the period/s of May 1st through June 24th, in 2011 and 2012.  I started the search price point above $10,000 to strip out the rentals/ leases that are reported by Realcomp II Ltd, and limited the search to residential homes sold and not leased.

There were 4 fewer homes sold this year during the reporting period, but the sold prices have jumped.   The list (asking) prices have also jumped considerably, and this is something that we have been seeing steadily for quite a while in Chesterfield Township and New Baltimore.

What does this mean for home buyers?    Simply put, it means there will be fewer homes for you to view as well as a higher price per square foot of home.   However, with interest rates lower this year, the total mortgage payment should be the same or less than it was a year ago.

What does this mean for home owners who are considering selling?   You’re in a good position.  You’re competing with fewer of the foreclosures and / or abandoned homes.  If your home is clean, well priced, and has been maintained you should see the sale of your home occurring faster than it did a year ago.

Let’s hope this uptick continues!

Kris Wales – a partner for you real estate needs in Macomb County MI
Contact Kris – 586-536-5453
SEARCH homes for sale with MLS provided data

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Important copyright information: All photos were taken by Kris Wales. Do not copy and use photos for your own use, whether it be for personal or commercial purpose. All articles were written by Kris Wales. Once again, do not copy and use for your own purposes. Important disclaimer: Views expressed on the blog by the author and commenters do not express the views of Keller Williams Realty. All information contained is deemed to be reliable at the time of posting but not guaranteed.