Livonia, MI Market Report comparing November 2010 & 2011
There were 77 homes sold in November 2010 vs 85 sold in November 2011
Average sold price was $113,994 in 2010 and $122,031 in 2011
Highest sold in 2010 was $335,000 vs $330,795 in 2011
Lowest sold was $14,100 in 2010 and $17,500 in 2011
Average days on market in 2010 was 93. In 2011 it was 85.
Here's the comparison in the different price ranges:
As you can see, the average price per sale is higher and the days on market are just a little bit lower in 2011 than they were in 2010.
I believe that the market has stabilized a bit and that the prices should slowly and somewhat steadily rise. It's not a full blown "rebound," but it's looking better than it has for a long time!