Rolling Meadows, Lake Orion MI Market Conditions- Good News If You’re Selling
Great news for homeowners in Rolling Meadows in Lake Orion Michigan. The median sales price is up for the 2nd year in a row! We’re still a long ways from the peak times, but better than 2009 or 2010.
Median Sales Price:
2011- 13 units at $228,000 2010- 14 units at $213,500 2009- 16 units at $210,000
There were no bank owned sales in 2011 and only 2 short sales.
The lowest sales price was higher each year than the previous year as well as the top end price was higher each year than the previous year.
2011 sale prices ranged from $194,000 – $265,000 2010 sale prices ranged from $164,505 – $237,000 2009 sale prices ranged from $153,000 – $247,000
12 of the homes sold within 26 days on the market and 1 house took 71 days to sell. I define days on the market as time from the last price change (if any) until pending. Overpriced houses aren’t really on the market. Properly priced homes sell since the time frames to sell in Rolling Meadows are about the same as the rest of the areas.
There were 4 homes financed through FHA and 9 utilized conventional mortgage financing. Most of the homes that sold in Rolling Meadows sold within about 5% of asking price. 1 house sold for 2 1/2% over asking price and 1 home sold at asking price.
2 houses in Rolling Meadows leased in 2011 at $1950/month and $2000/month (reported by Realcomp II MLS).
If you are considering selling your Rolling Meadows home, you may have more equity than you expected. Or getting closer to having equity again!
If you are thinking about buying in Rolling Meadows you need to call or email me so I can get listings to you the day they hit the market. Prices are up 6 1/2% from 2010 and up 8% from 2009. You still get a lot of house for the money and with interest rates so low buying in Rolling Meadows is still a bargain.
Rolling Meadows is a 265 home subdivision located just north of the I-75 and Baldwin Rd exit in Lake Orion MI. Homes were built in the mid 90′s and range from approximately 2000 sq. ft. to approximately 2800 sq. ft. Rolling Meadows boasts city water and sewer, sidewalks, subdivision tennis courts and swimming pool as well as a community club house.
Keller Williams Realty, Clarkston MI
Cell: (248) 736-6407