In Detroit, real estate market trends in 2012 compared to 2011 show that there were 245 fewer properties sold, listings took 3 days longer to sell on average, pending listings (under contract) increased by 55%, active listings decreased by 15%, and the average sales price rose 17% or $14,000. Inventory levels were also down 52% in terms of monthly supply.

1. October 2012
Detroit, MI
Market Trends

2. October 2012
For Detroit comparing 2011 to 2012 there are . . .
•245 Less Properties sold than this time last year
•Listings have been selling 3 days slower in 2012 than 2011
•55% more listings under contract compared to 2011
•15% less listings for sale in 2012
•Average sales price has increased in 2012 by 17% or $14,000
•52% less monthly supply of inventory in 2012

3. October 2012
Number of Properties Sold
2,500
2,000
1,500
1,000
500
-

4. October 2012
Days on Market
70
60
50
40
30
20
10
-

5. October 2012
Pending Listings
3,000
2,500
2,000
1,500
1,000
500
-

6. October 2012
Number of Listings For Sale
12,000
11,500
11,000
10,500
10,000
9,500
9,000
8,500

7. October 2012
6.0
Average Sales Price
$80,000
5.0$70,000
4.0$60,000
$50,000
3.0
$40,000
2.0$30,000
$20,000
1.0
$10,000
0.0
$-

8. October 2012
Monthly Supply of Inventory
6.0
5.0
4.0
3.0
2.0
1.0
0.0

9. October 2012
Data provided by Terradatum.
The above representation is based in whole or in part on data from the local
Multiple Listing Service for the time period indicated. RE/MAX, the Multiple
Listing Service, and the member Associations of REALTORS do not guarantee or
are in any way responsible for the data accuracy.