Rochester Hills 2008 Market Analysis Compared to 2007
By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
The following is an end of the year market analysis for Rochester Hills Michigan. It compares only residential homes sold in 2007 with 2008 to determine the # of homes sold for the year and the increase/decrease in average sold price. It also distinguishes how many homes were recorded to be Bank Owned as opposed to private owned. Total number of Homes Sold include private, bank owned and short sales. In the latter part of 2008, Realtors were required to categorize ownership status so figures may not truly reflect the actual number of bank owned for 2007 and part of 2008. To insure that most leases were not included in data, minimum sale price used was $15,000. 57 Bank Owned Homes sold in 2007 Average List Price $220,239.00 Average Sold Price $208,898.00 Highest List Price $729,000...
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