For those, like me who enjoy “seeing the numbers” the statistics below will provide quite a bit of insight into the local market, in and around Milford.

Typical Home Costs in the area - This little chart was compiled using local MLS data and comparing “typical” houses in several local areas. Obviously neither the “typical house” nor any specific house that is right on the averages actually exists, but it will give you a starting pointto understand what a house with the criteria that are specified for each of the three “typical Houses” might cost in the areas surveyed.

What’s sold in the area within the last week and month and how  many have sold year-to-date. This data will help you see what’s currently going on in real estate in the area. The percentage of homes that sold in May that were foreclosures fell 10 percentage points from the average of 70% that had been the average since January - a significant change in the market makeup.

DOM (Days On Market) Chart - This chart will show you how long homes have been setting on the local market by price band. I cover Milford, Highland, Commerce, While Lake and West Bloomfield  in this chart. It only covers the last week, so go to the Market Statistics (above) for a running Y-T-D chart, in order to see trends.

Home Value Trends in Milford

Zillow.com is a national Web site that tracks home values in neighborhoods across the U.S.  Zillow uses public databases for its input source, so it always may be a little off on any particular house; however, for area trends it should be fairly accurate.To view  an interactive map that shows Year-over-year Quarterly home value declines or increases in this area for Q2 of 2008  Click here.

There’s a local TV commercial for Little Caesar's pizza that starts out with a talking wallet asking, “Hey, what can a gut get for ten bucks around here?”  The real estate equivalent would be asking, “Hey what can a guy get for under $100,000 around here?” It turns out, lots. There are 65 houses currently for sale in the Milford area (which I define as including Milford, Highland, White Lake and Commerce Townships) for $100,000 or less, with 6 actually listed for under $50,000. So if you’re looking for a home for under $100,000 give me a call.

Quarterly Market Reports for the 5 Counties that we track in this area - From our sister site TheMilfordTeam.com. GO about 1/3 of the way down the page. If you are thinking of selling, you can use these reports to see what the competition will be and get the averages for how lon it might take to sell.

The year 2009 in review - a look back at the trends from some of the weekly statistics

Zillow Market Charts for Milford