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Friday, April 1, 2011

In White Lake Michigan the swoon continues...

After a brief respite at the end of last year, when things looked like they had stabilized and might be turning around, median home sale values in the Township of White Lake are again headed down and is inventory on the market

Real Estate Market Chart by Altos Research

White Lake continues to suffer a high percentage of distressed home sales, with distressed sales making up almost 70% of all sales in March. So far this year, there have been 55 homes sell at an average SEV multiplier of 1.5992. That means that a White Lake home that the assessor says is worth $200,000 actually sold for an average of $159,920 or about 80% of what the assessor thinks it's worth on the market. Home sale prices also averaged about $75/Sq Ft, which isn't all that bad when compared with other local markets.

White Lake is a fairly populous suburb and the last one along M-59 before you get into what might feel more like rural areas - Highland and Hartland are the next two townships out along M-59. White Lake features some very good shopping areas along the M-59 corridor.

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