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Oakland County Real Estate Market Update for May 2018

Real Estate Market Trends For Rochester and Beyond – 1st Quarter

We are nearing the end of the second quarter and before we get there I thought we should review some real estate market trends for Rochester and Beyond for the 1st quarter. Here’s a visual I created to illustrate the 1st quarter solds in 2017 vs. 2016.

 

 

Real Estate Market Trends For Rochester and Beyond – 1st Quarter Broken Down

In the $10,000 to $99,000 price range we had a tie with the highest sold numbers in Shelby Twp and Lake Orion both having 6 solds in the first quarter of 2016. However, in the first quarter of 2017, the highest number in this price bracket was another tie but this time between Troy and Shelby Twp with 3 solds each.

Let’s move to the higher numbers starting with $100,000 to $199,000. The highest number of solds in 2016 were 129 in Royal Oak and in again, Royal Oak, taking home the gold medal in 2017 with 105 solds the first quarter.

When moving up the ladder to the ever popular $200,000 to $299,000 price range we again see Royal Oak as the winner in 2016 with 91 solds and again, in 2017, Royal Oak comes in the highest with 100 solds.

In the next price range of $300,000 to $399,000, we have Shelby Twp with 45 solds in 2016 which was the highest in that price bracket. In 2017, we see Troy with 36 solds and Shelby Twp comes in a close second with 35 solds.

In the $400,000 to $499,000 we notice there was a tie in 2016 between Troy and Royal Oak with each having 22 solds the first quarter. In 2017, the winner was Royal Oak with 24 solds.

When we reach the $500,000 and up price bracket we had Birmingham with 43 solds in 2016 and 58 solds in 2017. Birmingham was first place for both 2016 and 2017 in this price range.

We’ll continue this series at the end of this month with 2nd quarter comparisons. It’s fun and educational to look at the differences between the years. If you have questions or would like further details on the local markets please reach out to me. I love numbers and I love educating my clients even more! Oh and you can come check out our new digs if you’d like to pay a visit in person! Would love to see you!

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