Local Market Update – May 2018

This is a research tool provided by Realcomp.

Pontiac
Oakland County

Residential May Year to Date

Key Metrics 2017 2018 % Change Thru 5-2017 Thru 5-2018 % Change
New Listings 54 52 - 3.7% 230 231 + 0.4%
Pending Sales 27 41 + 51.9% 151 180 + 19.2%
Closed Sales 32 41 + 28.1% 155 167 + 7.7%
Days on Market Until Sale 35 27 - 22.9% 38 44 + 15.8%
Median Sales Price* $62,500 $60,000 - 4.0% $55,000 $58,000 + 5.5%
Average Sales Price* $67,047 $82,084 + 22.4% $63,081 $71,898 + 14.0%
Percent of List Price Received* 95.7% 94.3% - 1.5% 98.4% 93.5% - 5.0%
Inventory of Homes for Sale 113 82 - 27.4% –– –– ––
Months Supply of Inventory 3.7 2.4 - 35.1% –– –– ––

Condo May Year to Date

Key Metrics 2017 2018 % Change Thru 5-2017 Thru 5-2018 % Change
New Listings 1 3 + 200.0% 6 11 + 83.3%
Pending Sales 1 1 0.0% 4 8 + 100.0%
Closed Sales 1 1 0.0% 5 9 + 80.0%
Days on Market Until Sale 15 6 - 60.0% 39 24 - 38.5%
Median Sales Price* $67,500 $64,000 - 5.2% $66,000 $74,000 + 12.1%
Average Sales Price* $67,500 $64,000 - 5.2% $64,920 $81,833 + 26.1%
Percent of List Price Received* 96.4% 85.3% - 11.5% 90.3% 91.5% + 1.3%
Inventory of Homes for Sale 7 3 - 57.1% –– –– ––
Months Supply of Inventory 3.2 1.6 - 50.0% –– –– ––
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.

Median Sales Price - Residential Median Sales Price - Condo

Rolling 12-Month Calculation All MLS Rolling 12-Month Calculation All MLS
Pontiac Pontiac
$200,000 $200,000

$150,000 $150,000

$100,000 $100,000

$50,000 $50,000

$0 $0
1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point. If no activity occurred during a month, the line extends to the next available data point.

Current as of June 1, 2018. All data from Realcomp II Ltd. Report © 2018 ShowingTime.