Statistics for Livonia for 2006, 2007 and currently in 2008!

According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, Detroit-Livonia-Dearborn, Michigan is one of the top 10 most affordable large metro areas. With that being said, the graph below shows the Listing Price Statistics for the years 2006, 2007 and current for 2008. The additional graph below shows the Listing Price Statistics for REO's (Bank Foreclosures) in 2006, 2007 and current for 2008. Below is the inventory history for all three years.

Listing Statistics for 2006, 2007, 2008 Ytd for city of Livonia.

  2008 Current Inventory
Active Listings 777
Sold Listings 75.58
Month's supply 10.36

2007 Inventory
Active Listings 907
Sold Listings 12
Month's Supply 75.58

2006 Inventory
Active Listings 760
Sold Listings 12
Month's Supply 63.33

 
As you can see from looking at the graphs, the high listing prices are still high for both, but the REO listings are significantly lower than those in the normal listings prices.  Below is the inventory history for REO's for all three years. 
 

2008 Current Inventory
Active Listings 777
Sold Listings 81
Month's supply 18.5

2007 Inventory
Active Listings 907
Sold Listings 89
Month's Supply 10.0

2006 Inventory
Active Listings 760
Sold Listings 33
Month's Supply 4.3

The amount of solds for REO"s have been going up the past few years. It is not even the middle of the year and we are close to half of what sold last year.

 REO Listing Price Statistics for 2006, 2007, and 2008 Ytd for city of Livonia

Thanks for viewing my home market report  for Livonia.nbsp; Also, if your interested in a foreclosure or bank owned home, send me an email and I will set you up on a special email notification as they come on the market.