Thursday, Apr 09, 2009
Prices fall 87% from peak
Carpe Diem (blog): Average Home Price in Detroit Falls to $12,669
According to the Michigan Association of Realtors (data here), the average sales price of a Detroit home fell to $12,669 in February, a 42.5% decline from the $22,016 average home price during the same period last year. For the entire state of Michigan, the average YTD home sales price has fallen by -31% to $85,892 through February 2009, compared to last year's average price of $124,618 for the same period. [Note: based on the graph in the article, I make that an 87% fall from the 2003 peak.]
Posted by drewster @ 12:41 AM (337 views) Add Comment
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