Grosse
Pointe Real Estate Index
| |
YTD
AVE
|
Previous
Month
|
5/1/2007
|
Comments |
Month’s
Supply of Homes
($100,000- $1,000,000) |
14.2 |
14.5 |
13.8 |
Supply
increasing since 10/03. Strong Buyer’s Market. |
| Total Homes on Market |
703 |
714 |
716 |
In a balanced market, there are approximately
325 homes available. |
| Transactions Pending |
42 |
31 |
48 |
Normal pace is 50-60 per month. |
| Price Range |
Currently on the market |
Closed in last 12 months |
$0-199K
$200-399K
$400-599K
$600-799K
$800-999K
$1M+
|
141
314
112
60
39
51 |
120
202
92
30
13
16 |
| |
|
|
FYI:
Remodeling's PAYOFF
Cost vs. Value Report
This report is published each year in conjunction with Remodeling magazine. It gives you a city-by-city guide on what various home projects will pay back at resale.
Cost data for the report come from HomeTech Information Systems, a remodeling software company in Bethesda, Md.
Resale values ("cost recouped" in the tables) are aggregated from estimates provided by the NATIONAL ASSOCIATION OF REALTORS
members.
If some of the remodeling job cost figures appear too high or too low, one cause is the leveling effect of averaging. The demand for - and cost of - remodeling services can vary greatly within a given metro area.
Keeping up with the Joneses can be a savvy investment move. But ultimately, the best reason for a remodel is to enjoy it.
www.REALTOR.org/realtormag
Source: Realtor.org/realtormag.
Questions? Comments?
Please contact Gary with any questions or suggestions on
future topics or information you would like to see on this
page.
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