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Canton Michigan Real Estate Market Update for December 2012

The last several weeks on the Canton real estate market have appeared to favor home buyers more than home sellers.

That’s because both the medium home sales price and the total number of home sales decreased.

Still, the average price per square foot actually increased – signaling a gain for the Canton home seller.

Properties for Sale in Canton

Here’s an overview of recent market activity in Canton, based on the most recent data:

  • Currently, there are 341 homes for sale on the market – a number of which are in some stage of the foreclosure process.
  • Between August and October, the average price per square foot for Canton homes was $91, up 8.3 percent when compared to the same period in 2011.
  • Meanwhile, the median sales price for Canton homes was $160,000 based on 428 home sales.
  • When compared to the same period in 2011, the median home sales price has decreased by about 9.1 percent – or $16,000.
  • Here’s how other communities fared in terms of median sales price:
    • Salem: $139,000
    • Northville: $290,000
    • Livonia: $114,900
    • South Lyon: $167,500
    • Superior Township: $666,500
  • Year-over-year, the total number of home sales in Canton decreased by 15.7 percent.
  • During the week ending on November 21, the average listing price for Canton homes was $223,311, down 0.3 percent when compared to the week before.
  • During that previous week, the average listing price for homes was $216,700.
  • Specifically, the average listing price for a 2-bedroom home was $121,573.
  • The average listing price for a 3-bedroom home was $174,094.
  • And the average listing price for a 4-bedroom home was $281,350.
  • Here’s a comparison of the average listing price in nearby Wayne County area communities:
    • Salem: $174,900
    • Northville: $447,196
    • Livonia: $396,047
    • South Lyon: $283,693
    • Superior Township: $255,635

Navigating the Canton, Michigan Housing Market

For even more updates on the current state of the Canton real estate market, please don’t hesitate to contact me, Noel Bittinger, and my team of Wayne County REALTORS today!

We’ll provide you with regular updates on the market and tell you how it may affect your efforts to sell your Canton home.

We also invite you to check out some of the free home-selling tools we already offer online, including:

Until next time,

Noel

 

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