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

Get pre-approved for a loan -

Perhaps the number one thing to do before you start looking at buying any home is to get with a mortgage person and get pre-approved. That will tell you exactly what you can afford. One of the best places to start is with Agnes Miesch, our  local John Adams Mortgage Broker. Call her at 248-684-5581 or eMail her right now

YTD Market Statistics - from our sister site - www.themilfordteam.com - comes this page of statistics which will be tracking a number of very important data points on a weekly basis. I’ve expanded the area that will be observed to now include Milford (Village and Township), Highland Township, Commerce Township, White Lake Township and West Bloomfield Township. These are the areas in which I do most of my business. Watch for trends and indicators of a better market in these statistics.

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

According to Zillow's latest Home Value Report, home values in Milford decreased 19.4% in the first quarter of 2008, compared to the first quarter of 2007. Nationally, single-family home values decreased 7.5% while condo values declined 9.0% during this same period. To view  an interactive map that shows Year-over-year Quarterly home value declines or increases in this area  Click here.