Real Estate Market Charts for Commerce Michigan

As we go into the new year these charts will update automatically; however, for now they give us a good look back at the Commerce market in 2009 and how we ended the year in the Commerce, MI market. These charts use data only from the 48382 ZIP code.




This first chart looks at the trend over the year in median home sales prices (consistently down, with a slight uptick just after mid-year) and the inventory that is sitting on the market (up through mid-year with 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.




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 tracked steadily up through much of Q2 and Q3, followed by a falloff in activity in late Q4. Over the year the average time it took to sell also stretched out from about 220 days to about 260 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.