Southeast Michigan Year End 2019
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Summary
49,498
2019 Closed Sales
no change from last year
$237k
2019 Average Sale Price
+4% from last year
$138
2019 Price Per Sq. Ft.
+3% from last year
$11.7b
2019 Dollar Volume
+5% from last year
After 10 years of declining inventory, year-over-year listing levels were up through most of 2019. That trend reversed again in the fourth quarter. Last year’s closed sales were even with the prior year. Sales in entry-level markets continue to decline but they have been stable in the middle markets and expanding in the upper price ranges. While the average sale price was up 4%, much of that was the result of more upper-end sales, even though those upper-end values were flat. Price per square foot for sales priced over $250k rose by 2%.
