I heard this on the news this morning.It was on the national news. I didn't think much of it at first, ofcourse sales dropped in July from June, the first time buyer tax credit expired! They even said that on the news. So this shouldn't be any huge news, right? Not exactly what I wanted to hear, especially after the positive blog I posted yesterday Metro Detroit, Michigan in Top 10 Housing Markets of the Future! but hey, like I always say ---- the market is what the market is.
But wait a minute, real estate is local right? You bet it is! I was curious as to what the market conditions were for all of Macomb County for July compared to June. So I did some research on my local mls and to be honest, I wasn't sure what the results would be.
- Higher than the national average?
- Lower?
- Somewhere in between?
I checked closed residential sales for homes and condos in July and in June. I used a minimum list price of $5,000 to avoid any rental listings. The data came back with 1033 sales in June and 738 in July. That's an approximate 28.6% decline from June to July. And surprisingly that's pretty much the number that NAR reported to the national news.
Despite these statistics, it's still true that real estate is local.Not all areas are the same. If you want to know the market conditions in your area, contact a REALTOR®. If you would like to know the market conditions in your city or area of Macomb County, MI contact Mike Mitchell - REALTOR®. I'd be happy to discuss them with you.
Statistics were taken from MiRealSource multiple listing service and are deemed to be reliable but not guaranteed.
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Looking for a Great agent in Macomb County? Let me GOOGLE one for you.
Mike Mitchell -REALTOR®
Real Living Kee Realty
Call / Text: (586) 291-2652
http://www.mikemitchell.realtor
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