Great News for Oxford MI Homeowners/Sellers!
I was just finishing up a market analysis for a home I will be listing this evening in Oxford MI. The house I’m listing is a very nice home, but sales in Oxford haven’t been bouncing back like they have in the Clarkston area. Unit sales are up slightly so far this year and median sales price is up a tad. No complaints- at least sales are up.
Through July sales volume in the Oxford school district are up 3 units- 152 units in 2010 and 155 units in 2011. And median prices in the Oxford school district went from $147,000 in 2010 to $149,500 through July of this year. But from the perspective of my soon to be new seller, the lack of inventory in his price range should be a great help in getting his home sold.
So far this year there have been 51 sales in the Oxford school district with sale prices between $120,000 and $175,000 the first 7 1/2 months of the year or 6.8 sales per month. There are only 13 active listings with the same criteria. Or less than a 2 month inventory.
Sounds like a seller’s market. I really won’t go that far since we are still selling at mid to late 1990′s prices. But I truly think the lack of inventory will help with the stabilizing and eventual increase in home prices in the Oxford MI area.
Jackie Hawley
Keller Williams Realty, Clarkston MI
cell: (248)736-6407
