Metro Detroit home sales jumped more than 11 percent in April, and home prices increased nearly 7 percent when compared to the same month last year, according to Realcomp II in its monthly report released today.
“Sales activity is really strong right now,” says David Elya, a member of Realcomp’s board of governors. “Spring is typically a strong time anyways, but we found that Macomb County is seeing home healthy gains over the last year. As far as the number of sales, inventory is tight right now and days on market went down a little bit, too, so it’s a pretty strong market right now.”
Macomb County home sales rose more than 13 percent with 1,047 sales in the month of April, and median home sale prices increased by more than 5 percent when compared year over year to $139,050.
Home sales in Oakland County increased by 8 percent in April with 1,564 sales when compared to April 2015, and home sale prices increased by nearly 5 percent to $206,000.
Livingston County saw home sales increase by more than 20 percent when compared year over year with 284 sales, while home sale prices jumped nearly 9 percent to $217,250.
In Wayne County, home sales increased by more than 11 percent when compared to the same month last year with 1,554 sales, while home prices remained relatively flat at $100,000.
Elya says he expects sales and home prices in metro Detroit to remain strong through the Presidential election in November.