I wanted to do a market report for St. Clair Shores waterfront homes for the whole year of 2009. While researching my data I was curious as to exactly what the difference was compared to say, 2005. I had a pretty good idea, in fact I was right on, but wanted to see the raw numbers to be sure.
I broke them down into two categories. Lake Front Homes and Canal Front Homes.
Saint Clair Shores LakeFront Homes closed in 2009 v closed in 2005
- Number of homes closed = 8 * Number of homes closed = 11
- Average List Price = $393,550 *Average List Price = $638,418
- Highest List Price = $624,900 *Highest List Price = $1,250,000
- Lowest List Price = 200,000 *Lowest List Price = $254,900
- Average Sale Price = $379,812 * $567,161
- Average days on market = 81 *Average days on market = 147
- Average total days on market = 182 *Average total days on market = 187
Shocking numbers aren't they? Interesting that closed sales are only down 28% or 3 units considering the current economic conditions. Even more interesting is the days on market comparison.
Of the 8 lakefront sales in 2009, 3 of them were bank owned. Also 6 of the homes were located on Jefferson.
Saint Clair Shores Canal Front Homes closed in 2009 v closed in 2005
- Number of homes closed = 23 *Number of homes closed = 17
- Average List Price = $173,822 *Average List Price $293,566
- Highest List Price = $289,000 *Highest List Price = $499,900
- Lowest List Price = $59,900 *Lowest List Price = $189,900
- Average Sales Price = $154,821 * $281,480
- Average days on market = 146 *Average days on market = 55
- Average total days on market = 399 *Average total days on market = 77
Now anyone that knows St. Clair Shores is going to know that canal front homes used to go for a lot more than $154,821 average sale price! These numbers / stats are just as shocking as the lake front numbers. How crazy is it that the 2009 highest list price is almost the same as the 2005 average sales price! Wow!
O.k. that's enough for everyone to chew on. All I can say is if you were ever thinking about buying a St. Clair Shores canal front home or a St. Clair Shores lakefront home - now is the time to do it!!!!
If you would like more information on buying or selling St. Clair Shores waterfront real estate - call, email or text me, anytime!
If you'd like to start looking for homes and take advantage of this buyers market in S.E. Michigan sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!
Mike Mitchell - REALTOR ®
GMAC The Kee Group
* Information deemed to be reliable but not guaranteed. Information taken from MiRealSource multiple listing service. Above sales were sold by agents and/or brokers. These statistics do not include for sale by owners. Selling prices did not include any sellers concessions. Rental properties and $1. sales were not included in stats.
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Mike Mitchell -REALTOR®
Real Living Kee Realty
Call / Text: (586) 291-2652