Median home sale prices in metro Detroit in March increased by 35.6 over March 2013, although sales were down 15 percent for the four-county region.
A report released today by Farmington Hills-based Realcomp II Ltd. shows a median sale price for Wayne, Oakland, Livingston and Macomb counties of $115,250, up from $85,000 in March 2013 — and up from $107,000 in February this year.
Here’s a look at the median sale price for March, county by county:
• Livingston County: up 20 percent to $185,925 from $155,000
• Macomb County: up 35.2 percent to $112,250 from $83,000
• Oakland County: up 11 percent to $161,000 from $145,000
• Wayne County: up 25 percent to $60,000 from $48,000
The total number of homes for sale in the four-county market also is down 11.5 percent to 12,735 in March from 14,390 the year before.
In the Detroit area, which Realcomp defines as the cities of Detroit, Hamtramck, Harper Woods and Highland Park, the median sale price increased 14.9 percent from $8,700 in March 2013 to $10,000 last month, and home sales fell 15 percent from 555 in March 2013 to 472 last month.
While 18,574 properties now are available, down 1,900 since this time last year, Realcomp CEO Karen Kage said historically, this time of year is a big time for listings.
“We’re all anticipating that this will be true, and then, of course, the inventory should rise at least a little bit,” Kage said.
