Reported by Market Trends* the median sale price for Southeast Michigan rose a staggering 47% comparing July 2012 to July 2013.
In Berkley for the month of August, the median sale price rose from $115,000 in 2012 to $180,000 in 2013.
Year to date through August, total home sales have dropped 17.07% in Berkley. Inventory of homes for sale has dropped 29% throughout Southeast Michigan since this time 2012.
Bottom-line, it's a textbook example of classic supply and demand!
Check-in every week for real estate updates along with home tips.
*Market Trends is distributed each month and is based on data provided by the local Real Comp Multiple Listing Service.
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