Northville, Michigan July 2012 Real Estate Market Report

It’s been an exceptional month for home sellers on the Northville, MI real estate market!

According to the most recent market data, both the average price per square foot as well as the median home sales price have increased substantially!

If you’re an interested Northville home seller, I recommend you continue reading to learn more about just how well the market has been doing lately.

Northville, Michigan Homes for Sale

Here’s are the highlights of the most recent Northville real estate market report from the website Trulia:

Currently there are 370 homes for sale on the Northville housing market, including 156 in some stage of the foreclosure process.
Between March and May of 2012, the average price per square foot for Northville homes was $118.
When compared to the same period in 2011, the average price per square foot has increased by about 20.4 percent.
Meanwhile, the median sales price for Northville properties was $243,000, based on 112 sales.
When compared to 2011, the median sales price has increased by $14,000 – or about 6.1 percent.
At the same time, the total number of home sales has actually decreased by about 36 percent.
During the week ending on June 20, the average listing price for Northville homes was $476,613, down 0.9 percent from the previous week.
Here’s how nearby communities compared in terms of average listing price:

Novi: $361,400
Salem: $450,000
Plymouth: $308,629
Wixom: $164,209
New Hudson: $252,028
South Lyon: $294,694

During the week ending on June 20, the median sales price for 2-bedroom Northville homes was $110,500.
Meanwhile, the median sales price for 4-bedroom homes was $490,000.
The Northville real estate market has done better than many of its counterparts in the area when it came to median sales price. Here’s how they did:

Novi: $210,900
Salem: $139,000
Plymouth: $180,000
Wixom: $116,000
New Hudson: $150,000
South Lyon: $192,765

As you can see, Northville’s housing market is looking a lot better than many of its counterparts in the Southeastern Michigan area!

I’ll help you at every stage of the home-selling process as well as offer you such helpful resources as my Northville neighborhood sold report and my Northville selling guide

Until next time,

Jim DiMora