Region’s Real Estate Sales Slip, But Prices Still Surging | Bedford Hills Homes

Total sales in the region in June were 6,308, down 2.8 percent from 6,491 in the same month of 2012.

The median sale price in the region, however, jumped 44.7 percent from a year earlier, to $123,000, from $85,000 in June 2012.

The sales decline was felt most strongly in Detroit, Dearborn and Dearborn Heights, Genesee County, and in rural areas like Huron and Sanilac counties.

The biggest price pops, however, came in Dearborn and Dearborn Heights and Genesee County. Also reporting strong price increases were the Grosse Pointes, Lapeer County, Macomb County, Oakland County, and rural Sanilac and Tuscola counties.

Inventory on the market shrank a whopping 28.4 percent, with 19,459 houses for sale in the region in June, down from 27,191 a year earlier. Of that inventory, 7 percent is identified as short sales, and 12.6 percent as foreclosure sales. Average number of days on the market before a home sells also continues to tumble, to 66 days, from 81 days a year earlier.

Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Region’s Real Estate Sales Slip, But Prices Still Surging | Bedford Hills Homes