Real estate sales in the Detroit area posted another monthly gain in November compared to November 2011, and prices jumped even faster.
The number of sales in the 10-county region for the month was 5,506 in November, up 7.2 percent from 5,134 in November 2011. And the median sale price was $87,550, up 25.1 percent from $70,000 in the same month a year earlier.
And the sales growth came entirely in non-foreclosure transactions, which grew 18.3 percent to 3,682, from 3,112 a year earlier. Foreclosure sales in the region fell 9.8 percent to 1,824 from 2,022 a year earlier.
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Authored By Matt Roush – See the Full Story at CBS Local
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