The chart below is one of four that you can see that show the area markets activity over the last five years. The sales are split out into $100K bands, so that you can see how each market segment has reacted to the recession and recovery.
If you want to view the chart full size, click here. The full report with charts for Wayne, Washtenaw, Livingston, and Macomb Counties as well may be viewed by clicking here.
For Oakland County this chart gives proof of our housing recovery, although we are not yet back to the sales levels of five years ago in the mid-market price bands. It certainly also shows that cheap sells. The lower price bands are doing much better in sales. What it doesn't show is how tight the market is right now and the impact of having very little to sell. For that you can go to my site - www.themilfordteam.com and look at the Real Estate Stats page, with charts from Altos Research that chart the average sale price and the inventory levels in the markets that I cover.