March home sales figures released by the people at Realcomp in Farmington Hills are definitely not good news — prices and sales have fallen across metro Detroit compared to March 2010, though Macomb County saw an uptick in sales.
The stats show that home sales were down 7 percent across metro Detroit but up 6.4 percent in Macomb. Median prices were down 13.3 percent in the metro area and 16 percent in Macomb. In Macomb, where about half the transactions still involve foreclosed homes, the median sale price has reached a disturbing $63,000.
While foreclosures still make up a large portion of the Macomb market – in fact, they were up 8 percent over a year ago – some southeast Michigan counties experienced drops in foreclosure transactions of 20 percent to 30 percent. Perhaps as a result, there were 6,000 fewer homes on the market across the region compared to March 2010.
