For homeowners, there was good news.
JC Reindl of the Detroit Free Press reports that the median sales price in December for homes and condos in the four-county region of Detroit was $120,800, up nearly 41 percent compared to December 2012. The sources of the information was Realcomp of Farmington Hills.
The counties included Oakland, Wayne, Macomb and LIvingston.
The Freep reports that sales remained steady at 4,077, or eight more sales than a year earlier, and homes stayed on the market for far fewer days.
The Freep reports:
The large increase in home sale prices last year was partly driven by the tight inventory of desirable homes on the market. Real estate agents saw bidding wars and over-asking-price offers on many homes. --A.L.
