Metro Detroit Home Sales Surge in January

Except from the Detroit Free Press:

Area home sales rose 9.6% in January. In the tri-county area, 4,002 homes were sold in January compared with 3,650 in January 2011, said Steve Bartley, whose company Advertising that Works in West Bloomfield collects the data from Wayne, Oakland and Macomb counties.

The average sales price was $119,325 in January compared with $126,199 a year ago. BUT when purchases by banks or companies are excluded such as foreclosures, the average sales price in January rose 2.1% to $122,177. Sales rose 11.5% to 3,065 from 2,748 in January 2011.

For January, Realcomp reported metro Detroit sales rose 7% for four counties -- Macomb, Oakland, Livingston and Wayne. It reported that 4,439 sales closed in January. And median sales prices, instead of the averages reported from the warranty deeds, rose 5.3% to $63,150 in January for those counties.


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