Lyon/South Lyon Real Estate Market Charts

As we go into the new year these charts will update automatically; however, for now they give us a good look back at the South Lyon/Lyon Twp market in 2009 and how we ended the year in the South Lyon, MI market. The data is from the 48178 ZIP Code.



This first chart looks at the trend over the year in median home sales prices (Median Sale prices fell every month during the year, with just the little upward blip in Q3 when the first-time buyer spike was hitting the overall market) and the inventory that is sitting on the market (inventory stayed fairly high almost all of the way through Q2 and then started a huge drop at the end). Some of the drop in inventory can be attributed to the big rush in September and October to buy in time to qualify for the first-time buyer tax credit, but some may just be people getting discouraged and pulling their homes off the market.



This chart shows a derived index value that the Altos Research folks call the Median Market Action Index, which measures how hot the market is in terms of sales activity level. It also shows the Average Days On Market (DOM). So, we had steadily rising Market Action Index, with a few downward blips or flat spots, but still trending up. Over the year the average time it took to sell was like a roller coaster ride but eventually stretched out from about 230 days to over 270 days.

By the way, the Altos Research folks define any market that has a Median Market Action Index below 30 (the scale goes from 0 to 100) as a buyers market, so obviously we spent the entire year well below that break point.

See all of the charts fro the six townships that I watch, plus Brighton, on my Milford Team Web site on the Markets Statistics Page.