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Friday, February 26, 2010

2010 MArket Report from Real Estate One

One of the cool things about working for Real Estate One is that they keep some really nice databases and do some great reporting off of that data. Below is a link to the report that was just released by the company on the market as we exited 2009 and headed into 2010. As you flip through it there is a just a ton of great information about the 5-county local market here is Southeastern Michigan and about the other markets that Real Estate One serves in Michigan. This is just another reason why it's so great to be a part o the biggest and best real estate company in Michigan.

One chart that stands out to me in the report shows how different the current market is from the historical market of the last 15-20m years in terms of the makeup of the sales. Historically real estate was almost all about traditional owner-occupied sale,what we call now traditional sales. Those sales made up 91.5% of the market, with leases making up 5%, bank owned hoes (foreclosures)running about 2.5% and short sales almost unheard of at 1% of the market. These days the market is made up of 34% short sales, 29%Bank owned sales, 20% traditional owner-occupied sales and 18% leases.

Enjoy the report and let me know what you think of it. Was it helpful for you?

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