The real estate market in Detroit from 2011 to 2012 saw a decrease in properties sold, listings selling faster, more listings under contract, fewer listings for sale, and higher average sales prices. Specifically, there were 329 fewer properties sold, listings sold 10 days faster, 25% more listings under contract, 34% fewer total listings, and average sales prices increased by 18% or $14,000. Inventory levels were also down 55% compared to the previous year.

1. September 2012
Detroit, MI
Market Trends

2. September 2012
For Detroit comparing 2011 to 2012 there are . . .
•329 Less Properties sold than this time last year
•Listings have been selling 10 days faster in 2012 than 2011
•25% more listings under contract compared to 2011
•34% less listings for sale in 2012
•Average sales price has increased in 2012 by 18% or $14,000
•55% less monthly supply of inventory in 2012

3. September 2012
Number of Properties Sold
6,000
5,000
4,000
3,000
2,000
1,000
-
Sep-11 Oct-11
Nov-11 Dec-11
Jan-12 Feb-12 Mar-12
Apr-12 May-12 Jun-12 Jul-12
Aug-12
Sep-12

4. September 2012
Days on Market
80
70
60
50
40
30
20
10
-
Sep-11 Oct-11
Nov-11 Dec-11
Jan-12 Feb-12
Mar-12 Apr-12
May-12 Jun-12 Jul-12
Aug-12
Sep-12

5. September 2012
Pending Listings
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
-
Sep-11 Oct-11
Nov-11 Dec-11
Jan-12 Feb-12 Mar-12
Apr-12 May-12 Jun-12 Jul-12
Aug-12
Sep-12

6. September 2012
Number of Listings For Sale
60,000
50,000
40,000
30,000
20,000
10,000
-
Sep-11 Oct-11
Nov-11 Dec-11
Jan-12 Feb-12
Mar-12 Apr-12
May-12 Jun-12 Jul-12
Aug-12 Sep-12

7. September 2012
Average Sales Price
$100,000
$90,000
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
$10,000
$-
Sep-11 Oct-11
Nov-11 Dec-11
Jan-12 Feb-12
Mar-12 Apr-12
May-12 Jun-12 Jul-12
Aug-12 Sep-12

8. September 2012
Monthly Supply of Inventory
12.0
10.0
8.0
6.0
4.0
2.0
0.0
Sep-11 Oct-11
Nov-11 Dec-11
Jan-12 Feb-12
Mar-12 Apr-12
May-12 Jun-12 Jul-12
Aug-12 Sep-12

9. September 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.