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Archives
December 2007
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Date: Dec. 30, 2007
Tags: None
One of the biggest challenges that a Realtor has today is to convince his selling clients that the value of their home is declining and that effective price reductions will, in the long run, maximize the most equity in the sale of the house. Below are the last three years of average sale prices for the Down River communities of Allen Park, Brownstown Twp., Lincoln Park, Melvindale, Taylor, Trenton, Wyandotte and Woodhaven:
Year Average Sale Price Total Number Of Units Sold % Change
2005 $149,748 2,365
2006 $140,061 1,900 -6%
2007 $130,934 1,649 -7
What is always true in a declining market is that the faster a house sells, the more it will sell for. In today's market a seller must be aggressive when it comes to pricing.
If you would like information about your city, please email me at Tom@TCrowe.com
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