Oakland County Home Prices Rising.

The average price of  a home sold in Oakland County rose 12.5% from the same period last year.

In July of 2009 1369 homes sold in Oakland County for an average sales price of $141,585. The average home was 1805 sq ft, for an average price per square foot of $78.70. There were 13 homes sold that listed for greater than $750,000.

In July of 2010 1046 homes sold in Oakland County for an average sales price of $159,320. The average home was 1885 sq ft, for an average price per square foot of $84.97. There were 15 homes sold that listed for greater than $750,000.

What is interesting is the highest end of the market, the over $750,000. I have spoken to agent across the state and they all concur that high end buyers are out there, but they are very educated, very diligent and very CASH in a lot of cases. The 13 homes listed for greater than $750,000 in Oakland County in 2009 had an average sales price of $1,070,000 and an average size of 5158 square feet (an average price per of $207) the highest priced was $2,000,000 and sold for $1,500,000.

In 2010, however, the average sales price was $893,433 and the average home was 4884 square feet (an average price per of $182). The highest listing price was $1,795,000 and that home sold for $1,275,000.

YTD on the over $750,000 listings there have been 107 sold vs. 71 in 2009. The average sales price is up a meager $6,771 dollars. The price per square foot is down $3 to $192.06. So the total sales volume of homes listed about $750,000 is up over 50% year to date.

2009:  $72,357,789

2010:  $109,984,650

How about some good real estate news, feels good.