The Milford Michigan Real Estate market

The market in Milford, Michigan continues to track downward, at lease as far as median sold home value are concerned. The inventory on the market bounched up at the beginning of the new year. but has again started down - perhaps an indication of dashed hopes of would-be sellers.








So far in 2011 the average price per square foot for sold homes in the Milford market remains well below $100 at $82/Sq Ft, with the median value even lower. The SEV multiplier is currently averaging 1.5454, which means that homes are selling at about 77% of their assessed values.



On average sellers are accepting offers that are 95% (the median is 93%)of the asking price at tht time of the sale. I don't track how many times the the property has had price reductions before it sells, but my observation is that homes are starting out way overpriced when they are initially listed and only sell once they are reduced into a reasonable price range. That tends to drag out the listing days on market. Some price bands are well into 2 years as averages for days on market.



See all of the details for the Milford real estate market and eight other surrounding markets at my Web site - www.movetomilford.com