How's the real estate market in Commerce, Michigan?

I guess the answer to the question about the market in Commerce, MI depends on whether you are a buyer or seller. Median sold home values have been on the increase since the beginning of the year (See chart), which more than anything else means that more expensive homes have been selling - good news for would-be sellers. Perhaps that is because most of the less expensive homes - foreclosures, short sales and HUD homes - sold off last year. The climb in median sold values did sort of plateau out in late June.

So far this year, 197 homes were sold in Commerce Township at an average sold price of $184,650 and a median sold price of $170,500. The average that sellers got per square foot was $85 and the average SEV multiplier was 1.5021. To see more of the year-to-date statistics about the market in Commerce and the surrounding area, go to http://www.movetomilford.com/ and click on the Local Real Estate Statistics choice and then click on What's sold in the area. You'll find all of the stats and charts at that site for for the six local markets that I track on a weekly basis.