Business & Tech
Home Sales Volume Climbs in Each Metro Detroit County, May Figures Show
Median prices generally unchanged. Greater Wayne County had no change in the median price during May.
The number of homes and condos sold in four Metro Detroit counties rose significantly last month, while median sales prices were relatively stable in most areas.
Greater Wayne County—excluding Detroit–had no change in median price during May.
Oakland, with a 21 percent median price surge to $137,900 during May, is a notable exception.
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Realtors sold 5,023 residences in Metro Detroit in May, 682 more than during the previous month for Macomb, Wayne, Oakland and Livingston. Volume climbed by double-digit percentages in all four counties, with Livingston as the pace-setter at nearly 32 percent higher than April.
The data was released Monday by Realcomp II Ltd., a multiple listing service in Farmington Hills. Its year-to-year analysis shows considerably fewer condos and homes were on the market throughout southeast Michigan than in May 2011.
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Livingston County had the highest median price in May ($149,450), followed by Oakland, Macomb ($75,000) and Greater Wayne, excluding Detroit ($62,200). Percentage changes from the previous month are in a table below.
Oakland County had the largest total of May deals in Metro Detroit outside Detroit, with 1,717 purchases – a one-month jump of nearly 19 percent.
Figures from six other counties also are in Monday's report. Compared to , overall residential sales during May rose 16.5 percent to 6,325 in all 10 counties of southeast Michigan. Median prices for those sold climbed to $81,000, 12.5 percent higher than the preceding month.
Average time on market in the four Metro Detroit counties was 79 days last month, four days shorter than in April. Turnover from listing to closing was fastest in Macomb (71-day average) and longest locally in Livingston (95 days).
Summary by counties
Area
May sales totals
Change from April
May median price
Change from April
Oakland
1,717
18.8%
$137,900
20.9%
Macomb
1,070
16.0%
$75,000
1.0%
Greater Wayne*
1,490
15.4%
$62,200
0%
Livingston
240
31.8%
$149,450
0%
* Greater Wayne covers that county, minus Detroit.
Source: Realcomp II Ltd.
