2014 market trend report southeast michigan year end …...the real estate one reo/mb 511 east front...

2 0 1 4 M A R K E T T R E N D R E P O R TSoutheast Michigan Year End 2013

Corporate offiCesThe Real Estate One Family of Companies25800 Northwestern Hwy.Suite 100Southfield, MI 48075248-208-2900

Charles Reinhart Company2200 Green Rd.Ann Arbor, MI 48105734-747-7888

LiViNGstoN CoUNtYBRIGHtoN8685 W. Grand River [email protected]

Howell*2442 East Grand River517-552-0222 [email protected]

MaCoMB CoUNtYClINtoN twp21250 Hall [email protected]

FRASeR34620 Utica Rd.Suite [email protected]

St. ClAIR SHoReS27320 Harper Ave. [email protected]

SHelBy twp50190 Schoenherr [email protected]

oaKLaND CoUNtYBIRMINGHAM Max Broock275 S. Old Woodward Ave.248-644-6700

BlooMFIeld HIllS Max Broock4120 Telegraph Rd.248-626-4000 [email protected]

ClARkStoNReal Estate One31 S. Main St.248-625-0200 [email protected]

Max Broock27 S. Main St. [email protected]

CoMMeRCe twp-lAkeS8430 Richardson Rd.248-363-8300 [email protected]

MIlFoRd560 N. Milford Rd.248-684-1065 [email protected]

NovI41430 Grand River Ave.Suite D248-348-6430 [email protected]

oRtoNvIlle*875 S. Ortonville Rd., Ste. [email protected]

RoCHeSteRReal Estate One543 N. Main St.248-652-6500 [email protected]

Max Broock543 N. Main St.248-656-6500 [email protected]

RoyAl oAk26236 Woodward Ave.248-548-9100 [email protected]

SoutHFIeld30233 Southfield Rd.Suite 100248-723-0055 [email protected]

SoutH lyoN346 N. LaFayette St.248-437-3800 [email protected]

tRoy70 W. Long Lake Rd.248-813-4900 [email protected]

weSt BlooMFIeldREO/MB 6960 Orchard Lake Rd. Suite 150248-851-4100 [email protected]

WasHteNaW CoUNtYANN ARBoRReal Estate One555 Briarwood CircleSuite [email protected]

Charles Reinhart South500 E. [email protected]

Charles Reinhart West2355 West [email protected]

Charles Reinhart East2452 East [email protected]

Charles Reinhart North2200 Green [email protected]

CHelSeACharles Reinhart800 South [email protected]

dexteRReal Estate One7444 Dexter-Ann ArborSuite I & [email protected]

MIlANReal Estate One1164 Dexter [email protected]

SAlINeReal Estate One601 E. Michigan [email protected]

Charles Reinhart1020 E. [email protected]

WaYNe CoUNtYdeARBoRN23756 Michigan Ave.313-565-3200 DearbornHgts-Dearborn@ RealEstateOne.com

deARBoRN HeIGHtS25000 Ford Rd.313-561-3860 [email protected]

dowNRIveR/SoutHGAteOne Heritage Place734-284-5400 [email protected]

GRoSSe poINteJohnstone & Johnstone82 Kercheval Ave.313-884-0600 [email protected]

lIvoNIA38705 Seven Mile Rd.Suite 150734-591-9200 [email protected]

plyMoutH217 Ann Arbor Rd. Suite [email protected]

NortHWest MiCHiGaNBellAIRe515 E. Cayuga [email protected]

BeulAH275 N. Michigan [email protected]

CHARlevoIx1200 Bridge [email protected]

elk RApIdS45th Parallel Premier 101 River St. [email protected]

FRANkFoRt523 Main St.231-352-4449 [email protected]

petoSkey*1349 S. US Highway 131231-347-6200 [email protected]

tRAveRSe CIty511 East Front St.231-947-9800 [email protected]

521 Randolph [email protected]

tHroUGHoUt MiCHiGaNAlGoNAC*2615 Pt. Tremble 810-794-9393 [email protected]

AlpeNA*215 W. Chisholm [email protected]

CARo*361 N. State St.Suite 4 [email protected]

CASevIlle*6974 Main St. (M-25)[email protected]

evARt*107 East US 10231-734-9710 [email protected]

FeNtoN*425 Rounds [email protected]

GAyloRd*236 West Main St. [email protected]

GlAdwIN*1005 North State [email protected]

GRANd RApIdS*1750 Grand Ridge Court Northeast Suite [email protected]

HARBoR BeACH*128 North Huron [email protected]

HIGGINS lAke*4556 West Higgins Lk Dr.989-821-5785 [email protected]

Holt*4525 Willoughby Rd.517-694-1121 [email protected]

Houghton lake*7122 West Houghton [email protected]

INdIAN RIveR*3792 [email protected]

JACkSoN*225 Fifth [email protected]

lApeeR*1101 South Lapeer [email protected]

lewIStoN*3020 Kneeland [email protected]

MARINe CIty*505 West [email protected]

MIo*422 1/2 Morenci St.989-826-6222 [email protected]

oSCodA*213 S. State St.989-739-9129 [email protected]

poRt HuRoN*1111 Military Rd.810-985-7777 [email protected]

RICHMoNd*68800 Main St.586-727-2737 [email protected]

RoGeRS CIty*298 Wenonah [email protected]

*franchise locations

Real Estate One office unless noted.

C i T !EAt Real Estate One Family of Companies

our core values represent what is most important to

us. These beliefs are practiced every day, whether we

are interacting with one another or our clients. From

being honored as a “Top Workplace” to running the

largest real estate business in Michigan,

our EXCITEment has driven us to success.

EXcellence | Caring | Integrity | Teamwork | Empowerment!

Holt*4525 Willoughby Rd.517-694-1121 [email protected]

Houghton lake*7122 West Houghton [email protected]

INdIAN RIveR*3792 [email protected]

JACkSoN*225 Fifth [email protected]

lApeeR*1101 South Lapeer [email protected]

lewIStoN*3020 Kneeland [email protected]

MARINe CIty*505 West [email protected]

MIo*422 1/2 Morenci St.989-826-6222 [email protected]

oSCodA*213 S. State St.989-739-9129 [email protected]

poRt HuRoN*1111 Military Rd.810-985-7777 [email protected]

RICHMoNd*68800 Main St.586-727-2737 [email protected]

RoGeRS CIty*298 Wenonah [email protected]

*franchise locations

Real Estate One office unless noted.

We have finished 24 solid months of a housing recovery where both home values and

the number of properties sold have risen. There are a few big questions on most of

our minds:

How long will the recovery last?

How far will values rise?

Will there be any homes to buy in 2014?!

For the most part in Michigan, home values have recovered anywhere from 60% to

70% of their peak 2005 values, which has allowed a large number of underwater

homeowners the breathing room to sell and buy again. Low interest rates and the

return of the stable two income family have given buyers a significant boost in

purchasing power, which have fueled the multiple offer overbidding we have been

seeing over the past two years. As values rise, purchasing power falls, so over time

they equalize and we return to a more balanced market. Our prediction is that 2014

will be the beginning of a balanced market. There is still a good chance for one last

push of a frenzied spring market like the past couple of years. Both interest rates and

available housing inventories look like they will remain very low going into the spring.

This could hold off the move to a balanced market until fall.

What are the headwinds for real estate in 2014?

We can start with the potential bad stuff first and finish on a positive note with the

good news.

Stuart ElseaPresident, Financial Services

Daniel ElseaPresident, Brokerage Services

So this is what a housing recovery looks like!Treasury “Tapering” of Their Bond Purchases, i.e., the Treasury slowing down

their printing of extra money. This is likely to happen in 2014 and to some degree

interest rates reflect an anticipation of some tapering, but if the Treasury cuts back

dramatically then rates could rise, possibly to near 6%.

Mortgage Underwriting Standards. The new rules from the Dodd-Frank legislation

will cause mortgage lenders to be extra cautious on how they underwrite loans,

meaning buyers on the margins will need to jump through more hoops and some may

not be able to get financing at all. Buyers will feel the effect of Dodd-Frank in the

first half of 2014. Later in the year, we hope lenders will get comfortable with the

new rules and a competitive market will ease things up.

International Issues: International economies are pulling in a number of different

directions. To some degree a slowing international economy creates excess capacity,

which tends to drive down interest rates and prices. This keeps inflation and interest

rates low, but a booming economy also has positive influences across all borders.

The big issue to worry about is a significant economic change that causes financial

markets to lose confidence, causing a ripple effect of recessions. Could this happen?

Seems less likely each day, but there are several international economies that have

been kicking their economic problems down the road and that might finally catch up

to them (Japan, Turkey, Spain, even China).

Our Own Slow Domestic Economic Growth. A much bigger concern than any

international economic issue is our domestic economy. It is not generating enough

jobs or personal income growth to keep the housing fuel going once the pent up

demand from the recession has been released. This could result in a long period of

slow housing growth.

New Construction and specifically new construction financing: There is strong

demand for new homes, however lenders are still gun shy from the recession.

Banks are reluctant to lend to builders whose balance sheets are still in bad shape,

so there continues to be a shortage of new homes. This compounds the overall

inventory shortage since most of the new construction buyers are also selling

a home. Less in Michigan but certainly in many Sun Belt markets, their housing

recovery will not be sustained until new construction is back on track to feed the

new movers into their market.

What are the tailwinds for real estate in 2014?

Low Inventories: Whether this is a tailwind or headwind depends on if you are a

seller or buyer. Overall, a shortage of homes for sale in a recovering economy is a

tailwind, helping to fuel the equity gains we need to sustain the housing recovery

beyond 2014. We can expect low inventories going into 2014, but there has been

evidence in the second half of 2013 that sellers are seeing their value gains and more

are putting their homes on the market. If that trend picks up again this spring, we

could see some inventory relief. However, we still expect historically low inventory

levels throughout 2014.

Appreciation Rates: Fueled by record low inventories, interest rates and home

values combined with excess purchasing power from buyers resulted in some pretty

impressive appreciation over the past two years, ranging from 25 to 50% off the low

value points of 2009/10. Home values dropped farther than they should have based

on the economic conditions, so 2012/13 was a bounce back to where they should

have been. From 2014 forward we will see appreciation rates closer to historic trends

(3-7%) versus the double-digit number over the past two years.

Investors and Sellers vs. Buyers: Investors have had a significant hand in fueling

the housing recovery, absorbing a good share of the excess inventory. In Southeastern

Michigan, investors moved from historically about 5% of the market to 15%. Now that

values have gone up and available homes are scarce, many investors will begin to sell,

releasing much needed housing inventory to the market.

Former Renters Will Now Be Buyers: Beginning this year many of the former

homeowners who were forced to sell and rent are now able to buy again, releasing

even more buyer demand into the market (many of those investors will be selling to

these renters).

Millennials Entering the Housing Market: The demographics favor housing over

the next 10 years, but much of the velocity of that demand will depend on the

Millennials’ interest in homeownership. By all counts it appears their interest is

strong, which will create that important domino effect of Millennial first time buyers

purchasing the Gen X home. The Gen X will buy from the Baby Boomer empty nester

while they transition to their retirement stage. Assuming homeownership returns to

the 65% level, we should see a sustained interest in housing, regardless of economic

conditions for the next 10 years.

Shift to Mobile Devices: While not a trend that will increase the number of buyers

or sellers, the ability to access outstanding market information on mobile and

tablet devices will make gathering market information and finding and purchasing/

selling properties faster and easier for consumers (of course, we would be remiss if

we did not remind all readers that our mobile app has the richest information and

features available).

January 21, 2014

Comerica Bank’s Michigan Index Eased in November

Comerica Bank’s Michigan Economic Activity Index decreased slightly in November, down 0.2 percentage point to a level of 131.4. November’s reading is 59 points, or 82 percent, above the index cyclical low of 72.1. The index averaged 114 for all of 2012, 11 points above the index average for 2011. October’s index reading was 131.6. “Our Michigan Index eased in November as residential building permits dipped following a September surge. Job growth is a positive factor for the state, but it is beginning to fall below the U.S. average. In November, Michigan payrolls were up 1.5 percent over the previous 12 months while the U.S average gain was 1.7 percent,” said Robert Dye, Chief Economist at Comerica Bank. “Auto sales bounced through the fourth quarter; weaker in October, stronger in November and then weaker again in December. We expect auto sales to continue to increase moderately in 2014, supporting the Michigan economy, but the lift to the state economy from the recovery in the auto industry is easing as vehicle sales inch closer to their eventual upper limit.”

The Michigan Economic Activity Index consists of seven variables, as follows: nonfarm payrolls, exports, sales tax revenues, hotel occupancy rates, continuing claims for unemployment insurance, building permits, and motor vehicle production. All data are seasonally adjusted, as necessary, and indexed to a base year of 2008. Nominal values have been converted to constant dollar values. Index levels are expressed in terms of three-month moving averages.

Comerica Bank, with 214 banking centers in Michigan, is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Michigan and Texas, Comerica Bank locations can be found in Arizona, California, and Florida, with select businesses operating in several other states, as well as in Canada and Mexico. To find Comerica on Facebook, please visit www.facebook.com/ComericaCares. To subscribe to our publications or for questions, contact us at [email protected]. Archives are available at http://www.comerica.com/economics. Follow us on Twitter: @Comerica_Econ. Media Contact: Data Contact: Robert Dye Daniel Sanabria (214) 462-6839 (214) 462-6789 [email protected] [email protected]

135

125

115

105

95

85

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n ANNUALIZED UNITS n Trend n 3 per Mov. Ave. (annualized Units)

80,000

60,000

40,000

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Comerica Michigan Economic Activity Index(2008=100)

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JAN 08 JAN 09 JAN 10 JAN 11 JAN 12 JAN 13

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JAN 09 JAN 10 JAN 11 JAN 12 JAN 13 JAN 14

Our proud accomplishments.

Sales Volume for 2013* (Closed Transactions) $4.4 Billion

Homes Sold/Leased

26,418

Unique Visitors to our Websites

1.9 million

Buyers Who Visited our Open Houses

39,818

Showing Appointments for our Listings 170,774

Mortgage Loans/Title & Insurance Policies Closed

10,051

*includes franchises and Charles Reinhart Company

We are a Top Workplace company.

For the third year in a row, the Real

Estate One family was named by Workplace

Dynamics/Detroit Free Press as one of the

Top Workplaces both in Michigan (3rd) and

in the country (51st).

n Reinhart Realtors became

a part of our Family of

Companies. There are few real

estate companies across the

country that have dominated

their market like Reinhart has

in Washtenaw County. They are

one of the top brokers in the

state with 200 sales associates,

six offices and over $800 million

in sales volume.

n Rental Management One: In

addition to adding Reinhart’s

property management program

we have also opened Rental

Management One as a full

service property management

company to cover the state,

beyond Washtenaw County.

n Lending Star. We are

expanding the footprint of

John Adams Mortgage Company

to include a correspondent

division to help smaller lending

and credit unions facilitate

their mortgages.

Our family has grown.

Our best year ever.

Market Share Growth.

The Very Best Team.

Our market share

growth has been

impressive over the

past year. We are

still three times

larger than our

closest competitor

in the state.

Most productive in the country! Among our

peer companies of brokers across the USA (over

700 sales associates), we have the highest

per person productivity, giving our team the

experience and level of success clients need.

Most Top Agents in the State. Not surprisingly,

our team dominates the Top 50 sales

associates in Michigan with more on the list

than any other real estate organization.

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Once they join they never leave! We have over 700 employees and sales associates

celebrating 10 or more years with our family of companies.

Community Involvement.Our team members have volunteered

thousands of hours of their time and hundreds

of thousands of dollars to support their local

communities along with key organizations

such as Special Olympics Michigan, Alzheimer’s

Association, Lymphoma and Leukemia

Foundation, Multiple Sclerosis and many more.

No. of licensed Gross Sales Gross Sales No. of residential Brokers and ($000,000) ($000,000) transactions registered sales No. of Rank Company 2012 2011 closed in 2012 representatives offices

1 Real Estate One Family $2,622.4 $2,183.1 18,564 1,382 32

2 Coldwell Banker Weir Manuel 898.8 738.2 4,969 398 15

3 Charles Reinhart Co.* 663.9 518.9 2,828 170 7

4 Century 21 Town & Country 427.1 372.8 2,937 278 7

5 Howard Hanna 402.3 359.9 3,010 158 10

6 Re/Max Classic 397.2 323.1 3,011 109 4

7 Hall & Hunter Realtors 366.2 282.2 1,257 78 1

8 Re/Max Platinum 347.7 272.5 2,314 174 5

9 SKBK Sotheby’s International Realty 317.4 282.0 623 88 1

10 Keller Williams Realty Novi/Northville 266.7 183.0 1,663 165 2

11 Century 21 Today Inc. 236.7 201.4 1,233 208 4

12 Real Estate Affiliates Keller Williams WB & Commerce 221.1 217.8 1,626 206 2C

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Coldwell Banker Schmidt

Prudential Preferred

Coldwell Banker Weir Manuel

Greenridge Realty, Inc.

Coldwell Banker Hubbell BriarWood

Keller Williams Realty of Grand Rapids

RE/MAX Classic

Century 21 Town & Country

Charles Reinhart Company*

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Distribution of Home SalesIn our current market, the type of home that is selling has shifted from the traditional profile of the past 20 years.

It is important to understand where your

home fits into the overall market activity.

Although traditional owner-occupied

homes make up the bulk of current homes

available for sale, about a third of these

Home sales continue to follow an upward trend that began in the fall of 2012.

Web activity dipped a bit in the spring but has recovered bringing strong momentum

into 2014.

We have seen weather related declines in property showings and sales, however website

activity remains strong, showing that the buyers are still there waiting for the weather

to break.

Views and Visits

R E A L E S TAT E O N E . C O M | M A X B R O O C K . C O M | J J R E A LTO R S . C O M | R E I N H A R T R E A LTO R S . C O M

2005 2008 2013

91.5% RETAIL

22% RETAIL 63%

RETAIL

30% SHORTSALE

12% SHORT SALE

30% BANKOWNED

15% BANKOWNED

LEASES 5%BANK OWNED 2.5%SHORT SALE 1%

10% LEASES

18% LEASES

The Luxury MarketLuxury home sales and values jumped to a 7-year high across Southeast Michigan.

Luxury home sales (those $500,000 and above) continue to follow the rest of the market

upward over the past year, reaching a seven-year peak in properties sold in 2013. The

rate of sales has been increasing while the number of homes for sale in the luxury

market has been declining. The result is an increasing absorption rate (see chart),

leading to value increases for most properties across Southeast Michigan.

2010 Q4 2011 Q2 Q4 2012 Q2 Q4 2013 Q2 Q4 2010 Q4 2011 Q2 Q4 2012 Q2 Q4 2013 Q2 Q4

0

100

200

300

400

500

600

2010 Q4 2011 Q2 2011 Q4 2012 Q2 2012 Q4 2013 Q2 2013 Q4

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

2010 Q4 2011 Q2 2011 Q4 2012 Q2 2012 Q4 2013 Q2 2013 Q4

20%

15

10

5

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Sales Absorption600

400

300

200

100

0

Homes Sold Average Cost per Square Foot n For Sale n Sold

$-‐

$50

$100

$150

$200

$250

2010 Q4 2011 Q2 2011 Q4 2012 Q2 2012 Q4 2013 Q2 2013 Q4

$250

200

150

100

50

0

Average Cost per Square Foot n For Sale n Sold

2010 Q4 2011 Q2 Q4 2012 Q2 Q4 2013 Q2 Q4

Homes Sold & Website Visitors

Homes Sold Website Visitors

-

1,000,000

2,000,000

3,000,000

4,000,000

-

5,000

10,000

15,000

20,000

25,000

30,000

Jan

Feb

Mar

Ap

r M

ay

Jun

Jul

Aug

Sept

O

ct

Nov

D

ec

Jan

Feb

Mar

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ay

Jun

Jul

Aug

Sept

O

ct

Nov

D

ec

Jan

Feb

Mar

Ap

r M

ay

Jun

Jul

Aug

Sept

O

ct

Nov

D

ec

Jan

Feb

Mar

Ap

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ay

Jun

Jul

Aug

Sept

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Feb

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D

ec

2009 2010 2011 2012 2013

transactions are still financially stressed

(bank owned, short sale or leases). Even

with the current inventory shortage,

condition and the right pricing tier are

the keys to maximizing your value.

Addison Twp./Leonard 77 -11.5% $267,000 24.2%Auburn Hills/Lake Angelus 212 6.5% $107,000 27.4%Berkley 388 7.5% $145,200 26.3%Beverly Hills 200 -9.1% $270,500 12.7%Bingham Farms Vlg. 19 -32.1% $320,000 19.0%Birmingham 556 -3.6% $389,500 32.0%Bloomfield Hills 98 5.4% $593,500 46.7%Bloomfield Twp. 819 0.0% $320,750 21.0%Brandon Twp. 176 2.3% $179,950 22.0%Clarkston 24 20.0% $176,000 2.9%Clawson 220 -5.6% $130,000 39.5%Commerce Twp. 662 19.7% $205,000 20.6%Davisburg/Springfield Twp. 162 -18.6% $218,000 25.3%Farmington 164 8.6% $134,461 16.9%Farmington Hills 1131 7.5% $180,000 24.4%Ferndale 532 1.3% $100,000 96.1%Franklin Vlg. 52 -1.9% $411,500 17.6%Groveland Twp. 58 11.5% $181,000 18.5%

Hazel Park 324 -16.3% $25,100 35.7%Highland Twp. 258 -3.0% $163,000 12.4%Holly Twp./Vlg. 190 2.2% $94,350 36.7%Huntington Woods 115 17.3% $270,000 16.3%Independence Twp. 556 -1.2% $225,000 37.4%Keego Harbor 47 2.2% $90,100 82.9%Lake Orion Vlg. 61 -26.5% $175,000 84.2%Larthup Vlg. 54 -35.7% $137,500 39.8%Lyon Twp 263 0.8% $311,425 23.6%Madison Heights 434 -7.5% $65,000 44.4%Milford Twp./Vlg. 240 16.5% $239,000 17.7%Novi/Novi Twp. 766 -1.9% $255,000 23.5%Oak Park 340 -14.1% $57,850 58.8%Oakland Twp. 317 17.4% $355,000 8.4%Orchard Lake Vlg. 32 18.5% $560,000 -5.9%Orion Twp. 489 5.2% $212,000 36.8%Ortonville Vlg. 21 10.5% $123,909 113.3%Oxford Twp./Vlg. 313 17.7% $208,000 24.2%

Pleasant Ridge 52 -5.5% $210,250 26.7%Pontiac 564 -5.1% $22,950 30.4%Rochester 210 14.1% $238,750 17.3%Rochester Hills 1049 17.6% $236,500 18.3%Rose Twp. 72 -2.7% $150,000 14.7%Royal Oak/Twp 1475 11.3% $163,000 25.4%South Lyon 244 32.6% $130,250 24.0%Southfield/Twp. 878 -15.5% $75,000 44.2%Sylvan lake 47 4.4% $148,000 30.4%Troy 1026 4.5% $224,000 21.1%Walled Lake 125 -2.3% $108,000 65.4%Waterford 1212 -5.4% $106,000 41.3%West Bloomfield 998 -4.3% $232,578 36.8%White Lake Twp. 402 8.9% $187,700 28.3%Wixom 154 17.6% $170,000 20.6%Wolverine Lake Vlg. 74 21.3% $125,000 32.8%

2013 13/12 2013 13/12Selected Cities Sales % Chng Median* % Chng



Changes in median values reflect both appreciation and shifts in types of homes purchased. A decline reflects a shift to lower priced homes not a decline in value.

* 4th quarter comparison

Insurance One has been serving

customers since 1972 and is a

full service, independent agency

representing eight excellent

insurance companies.

In 2013, Insurance One had

6,800 policies in force and

achieved a record of over

$7.5 million in premiums.

Capital Title Insurance Agency is

one of the largest in Michigan,

covering all 83 counties and the

8th largest real estate affiliated

title agency in the country.

They have been serving their

clients’ title and escrow needs

since 1975. In 2013, they closed

over 7,200 transactions.

John Adams Mortgage has been

in business since 1971 and is a

full service, Michigan owned

and operated mortgage lender

offering conventional, jumbo,

FHA, and USDA loans.

John Adams Mortgage is one of

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oakland county

50%

55%

60%

65%

70%

75%

80%

85%

90%

95%

Dec-‐11 Feb-‐12 Apr-‐12 Jun-‐12 Aug-‐12 Oct-‐12 Dec-‐12 Feb-‐13 Apr-‐13 Jun-‐13 Aug-‐13 Oct-‐13 Dec-‐13

% of H

OMES SOLD

< 90 DAYS

50%

55%

60%

65%

70%

75%

80%

85%

90%

95%


% of H

OMES SOLD

< 90 DAYS

0

2

4

6

8

10

12


$-‐

$10

$20

$30

$40

$50

$60


0

1

2

3

4

5

6

7


oakland county

Median value changes reflect both the change in home value as well as the change in the type of homes purchased in that area. They should not generally be interpreted as the true value change in any given market. Source: RealComp II, MIRealSource, Ann Arbor MLS

Cumulative Days on Market

Average Price Per Square Foot

Months Supply of Inventory

$1-100,000 above $100,000

Odds of a home sale after 90 days: 20% Odds of a home sale after 90 days: 17%

4th Quarter 2013 vs 2012 n For Sale n Sold


4th Quarter 2013 vs 20124th Quarter 2013 vs 2012

0

20

40

60

80

100

120

140

160

180


Months supply computed with a seasonal multiplier.

In a Seller’s market, Buyers must still be willing to act quickly with a strong offer. For sellers, gauge your negotiating strength by the number of showings you are getting.

Watch market conditions. Normal markets tend to be a short term transition towards either a buyer or seller market. Reevaluate your marketing strategy and price every 30 days.

In a Buyer’s market, balance the best combination of price and terms to insure your house is sold in an acceptable timeframe. If there is an 18-month supply of homes, make sure your home sells in month 1 not month 18.

OAKLAND COUNTY market inventory report detail | oct-dec 2013

*Buyer’s Market No sales this period in area and price range.

50%

55%

60%

65%

70%

75%

80%

85%

90%

95%

100%


% of H

OMES SOLD

< 90 DAYS

65%

70%

75%

80%

85%

90%

95%


% of H

OMES SOLD

< 90 DAYS

above $100,000




$1-100,000 above $100,000


0

20

40

60

80

100

120

140


0

5

10

15

20

25

30

35

40

45




4th Quarter 2013 vs 20124th Quarter 2013 vs 2012


0

1

2

3

4

5

6

7

8


0

1

2

3

4

5

6

7


macomb county

Armada Twp./Vlg 54 -1.8% 154200 57.3%Bruce Twp. 50 -25.4% 231750 17.6%Center Line 85 -15.0% 43750 35.7%Chesterfield Twp. 633 8.6% 150000 27.1%Clinton Twp. 1193 -5.0% 110000 43.1%Eastpointe 618 -11.6% 39900 47.5%Fraser 185 2.2% 89000 18.7%Harrison Twp. 367 4.9% 120850 34.3%Lenox Twp. 34 21.4% 166350 14.7%Macomb Twp. 1086 0.3% 229900 12.3%Mt. Clemens 231 19.1% 40500 28.6%New Baltimore 182 -2.2% 164350 17.4%New Haven 75 33.9% 98000 15.3%

Ray Twp. 45 50.0% 231300 21.7%Richmond/Richmond Twp. 138 15.0% 121000 21.0%Romeo 43 -8.5% 123000 13.4%Roseville 747 -9.3% 45000 45.2%Shelby Twp./Utica 950 12.4% 175000 9.4%St. Clair Shores 1084 -4.3% 84000 29.2%Sterling Heights 1324 6.5% 139700 20.4%Warren 1809 -0.6% 68000 41.5%Washington Twp. 289 8.2% 250000 19.0%




In a seller’s market, buyers must still be willing to act quickly with a strong offer. For sellers, gauge your negotiating strength by the number of showings you are getting.


In a buyer’s market, balance the best combination of price and terms to insure your house is sold in an acceptable timeframe. If there is an 18-month supply of homes, make sure your home sells in Month 1 not Month 18.

*Buyer’s Market No sales this period in area and price range.



MACOMB COUNTY market inventory report detail | oct-dec 2013

40%

45%

50%

55%

60%

65%

70%

75%

80%

85%

90%


% of H

OMES SOLD

< 90 DAYS

40%

50%

60%

70%

80%

90%

100%


% of H

OMES SOLD

< 90 DAYS

0

2

4

6

8

10

12


0

1

2

3

4

5

6

7


$-‐

$20

$40

$60

$80

$100

$120

$140

$160


Number of Homes Sold


DEC 10 FEB 11 APR 11 JUN 11 AUG 11 OCT 11 DEC 11 FEB 12 APR 12 JUN 12 AUG 12 OCT 12 DEC 12



$1-100,000 above $100,000





4th Quarter 2013 vs 2012

$-‐

$10

$20

$30

$40

$50

$60

$70

$80


4th Quarter 2013 vs 2012

livingston county

Brighton 157 -4.8% 154000 5.1%Brighton Twp. 321 18.0% 241900 21.4%Cohoctah Twp. 42 20.0% 130000 14.6%Conway Twp. 47 0.0% 136000 18.3%Deerfield Twp. 43 -12.2% 147900 -6.3%Fowlerville Vlg. 26 -33.3% 94950 32.1%Genoa Twp. 311 -5.5% 195000 8.3%Green Oak Twp. 255 -3.4% 205000 13.9%Hamburg Twp. 359 0.0% 206000 21.2%Handy Twp. 85 25.0% 128000 36.9%Hartland Twp. 195 3.2% 185000 5.7%Howell 141 -7.2% 133500 30.9%

Howell Twp. 139 17.8% 125350 30.9%Iosco Twp. 46 4.5% 165894 44.3%Marion Twp. 216 45.0% 180000 8.3%Oceloa Twp. 222 6.7% 180000 15.8%Pinckney Twp. 47 9.3% 135000 24.0%Putnam Twp. 96 -2.0% 175125 21.1%Stockbridge/Stockbridge Twp. 38 -22.4% 117500 75.4%Tyrone Twp. 132 5.6% 199500 13.4%Unadilla Twp. 55 -1.8% 150000 94.4%






In a buyer’s market, balance the best combination of price and terms to insure your house is sold in an acceptable timeframe. If there is an 18-month supply of homes, make sure your home sells in Month 1 not Month 18. *Buyer’s Market

No sales this period in area and price range.



LIVINGSTON COUNTY market inventory report detail | oct-dec 2013

40%

50%

60%

70%

80%

90%

100%


% of H

OMES SOLD

< 90 DAYS

40%

50%

60%

70%

80%

90%

100%


% of H

OMES SOLD

< 90 DAYS

0

1

2

3

4

5

6


0

20

40

60

80

100

120






$1-200,000 above $200,000




4th Quarter 2013 vs 2012 4th Quarter 2013 vs 2012

0

20

40

60

80

100

120

140

160

180

200


0

2

4

6

8

10

12


washtenaw county

Ann Arbor Condo 588 -4.5% 160,000 23.1%Ann Arbor Residential 1292 1.7% 271,205 14.0%Chelsea 199 0.0% 230,000 24.3%Dexter 321 5.9% 270,000 10.7%Grass Lake 53 1.9% 189,000 13.5%Manchester 93 36.8% 167,000 12.5%Milan 94 -34.7% 133,450 34.5%

Pinckney 409 -4.9% 190,100 18.8%Saline 369 6.6% 280,000 8.3%Ypsilanti 331 -6.2% 97,500 50.0%










WASHTENAW COUNTY market inventory report detail | oct-dec 2013

CO

ND

O

RES

IDEN

TIA

L

40%

50%

60%

70%

80%

90%

100%


% of H

OMES SOLD

< 90 DAYS

65%

70%

75%

80%

85%

90%


% of H

OMES SOLD

< 90 DAYS

0

1

2

3

4

5

6

7

8

9


0

20

40

60

80

100

120

140


0

5

10

15

20

25

30

35

40

45






$1-100,000 above $100,000





0

2

4

6

8

10

12


wayne county

Belleville 50 -19.4% 101,500 21.8%Canton 1394 9.6% 195,000 22.6%Dearborn 1128 -16.0% 85,000 39.3%Dearborn Hgts 932 -13.4% 63,560 38.2%Garden City 449 -15.8% 63,000 50.0%Huron Twp. 156 9.9% 136,250 23.8%Inkster 223 -18.6% 16,950 30.4%Livonia 1612 3.1% 135,000 26.2%Northville/Northville Twp. 514 -11.4% 340,000 10.7%Plymouth/Plymouth Twp. 581 2.1% 237,500 30.1%Redford 124 -90.0% 48,500 51.6%Romulus 252 -10.0% 55,000 19.5%

Sumpter Twp. 101 -12.2% 95,611 5.1%Van Buren 21 -94.8% 105,100 -1.7%Wayne 221 -14.0% 41,017 41.4%Westland 1136 -10.2% 77,000 54.0%










WAYNE COUNTY market inventory report detail | oct-dec 2013

40%

45%

50%

55%

60%

65%

70%

75%

80%

85%

90%


% of H

OMES SOLD

< 90 DAYS

65.00%

70.00%

75.00%

80.00%

85.00%

90.00%


% of H

OMES SOLD

< 90 DAYS

0

2

4

6

8

10

12

14


0

5

10

15

20

25

30


$-‐

$2

$4

$6

$8

$10

$12

$14

$16






$1-50,000 above $50,000





$-‐

$10

$20

$30

$40

$50

$60

$70

$80


city of detroit

40%

50%

60%

70%

80%

90%

100%


% of H

OMES SOLD

< 90 DAYS

50%

55%

60%

65%

70%

75%

80%

85%

90%

95%

100%


% of H

OMES SOLD

< 90 DAYS

0

1

2

3

4

5

6

7

8

9

10


0

1

2

3

4

5

6

7

8


0

20

40

60

80

100

120

140

160

180

200


0

5

10

15

20

25

30

35

40

45


Number of Homes Sold





$1-150,000 above $150,000

4th Quarter 2013 vs 2012n For Sale n Sold




the grosse pointes

50%

55%

60%

65%

70%

75%

80%

85%

90%

95%


% of H

OMES SOLD

< 90 DAYS

0

2

4

6

8

10

12

14


0

1

2

3

4

5

6

7


0

10

20

30

40

50

60



Number of Homes SoldCumulative Days on Market



$1-100,000 above $100,000





0

20

40

60

80

100

120


downriver

50%

55%

60%

65%

70%

75%

80%

85%

90%

95%


% of H

OMES SOLD

< 90 DAYS

Allen Park 476 9.9% 78,500 24.6%Brownstown Twp. 364 -11.4% 153,725 28.1%Ecorse 59 -14.5% 11,529 53.7%Flat Rock 112 6.7% 90,500 1.7%Gibraltar 53 6.0% 134,900 46.6%Grosse Ile 35 -82.3% 270,000 58.8%Lincoln Park 566 -10.6% 36,050 44.2%Melvindale 115 -21.2% 32,500 40.3%River Rouge 41 -16.3% 9,900 41.4%Riverview 123 -13.4% 121,060 61.4%Rockwood 32 -36.0% 81,500 1.9%Southgate 407 -6.7% 70,000 22.9%

Taylor 782 -8.8% 45,000 38.5%Trenton 281 2.2% 110,000 35.0%Woodhaven 153 9.3% 109,900 3.9%Wyandotte 412 12.0% 69,555 45.7%










DOWNRIVER market inventory report detail | oct-dec 2013

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