Since the beginning of 2010 there have been 36 sales in White Lake of homes with values over $20,000 (there may have been a few under that price, but that's my cut-off doe tracking purposes) and the median sale price has been $185,500. Those houses spent an average of 153 days on the market. There were 246 homes on the market in White Lake, Michigan as of last Sunday. The chart below shows the trends for home values and the inventory in White Lake-
As you can see the inventory in the White Lake market, like all of the markets that I've been reporting upon is still falling. That's a good thing and hopefully means that we are working off the inventory overhang from the rash of foreclosures last year. So far this month, only 45% of the 11 homes that have sold in the White Lake market are foreclosures, which is quite good; since the overall rate in the six townships that I report upon is still above 60%.
For all of the data that I track about White Lake, Michigan and the other five townships in my market area, go to my Web site http://www.themilfordteam.com/ at click onthe Real Estate Statistics choice. Remeber that you can also search for all of the properties on the market in White Lake, Michigan at that site.
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Norm Werner is a full-time, full-service Realtor working out of the Milford office of Real Estate One, Michigan’s largest and most successful real estate company. To learn more about Norm or the local real estate market in the Milford, Michigan area visit one of his Web sites listed below:
For buyers and sellers – http://www.themilfordteam.com/
For first-time buyers – http://www.mihomebuyer.com/
For people moving to Milford, Michigan – http://www.movetomilford.com/
For people in distress with their home – http://www.mishortsales.net/
For people interested in the history of Milford Michigan, visit http://www.milfordhistory.org/
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