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Michigan Area Map Michigan Real Estate Market

August, 2010  Alpena homes for sale Houghton Lake homes for sale Lansing homes for sale Detroit homes for sale

The Michigan real estate market offers an incredibly diverse range of properties and features some of the best values in the country. The city with the largest property value for sale is Traverse City with total properties on the market of just under $763 million dollars (2,874 homes and lots on the market in Traverse City at an average price of $265,000). The large number of properties available in Traverse City is in large part due to over 1,000 lots for sale. Detroit which has the largest number of real estate properties on the market at 4,313 came in sixth in total property value listed in the MLS due to the low average cost per home of approximately $ 62,100.

The total real estate value on the market in Ann Arbor ranks second with $453 million in listed properties (1,639 properties on the market at an average price of $276,000). Grand Rapids came in a third at $437 million. (There are 3,045 properties for sale in Grand Rapids at an average price of $143,000). Bloomfield Township ranks fourth with $391 million in residential real estate for sale. (725 Bloomfield Township properties were listed in the MLS at an average listing price of just under $539,000). Harbor Springs rounded out the top five real estate markets in Michigan with total property value listed of $317 million (Harbor Springs has 811 listed properties listed at an average price of $392,000).

The most expensive community is Lake Angelus which has only 17 properties for sale at an average price of $1,643,000. Bloomfield Hills is second with an average price of $1,100,000. Walloon Lake is third with 22 properties with an average price of $1,008,000. Average property listing prices then drop below one million dollars. Orchard Lake subdivisions have the fourth most expensive property listings with an average price just over $972,000 million. Rounding out the top five is Luther, MI which has 9 properties listed at an average price of $857,000.

Experienced

Buying or selling a home is a complex process. You need someone to represent you who knows the market, the area, the people. Real Estate One is based in Michigan and has been in business since 1929. Through every kind of market, we have prospered. We are the largest broker in Michigan, and one of the largest brokers in the country. Michigan is more than our market. It’s our home.
Innovative
Established in 1929 by Staunton Elsea, the company has long been known as an innovator. Many of the marketing tools common throughout the country started here. Real Estate One was the first company to have multiple offices, to create homes books, to create a computerized MLS, and to host Open Houses. Today’s generation: Staunton’s son, Dick, who is currently the Chairman, and Dick’s sons, Stuart and Dan, Co-Presidents, still focus on innovative and efficient ways to serve our customers. Our Web site attracted 1.1 million unique visitors in 2007 and continues to grow at a rapid pace. Our Customer Care department makes sure that every Web inquiry is answered. In 2007, we were involved in 22,000 transactions generating $3.1 billion in home sales. Other brands also work under our Family of Companies. Johnstone and Johnstone, a well-respected Grosse Pointe firm established in 1919, and Max Broock Realtors, established in 1895, are now members of our company. For our client’s convenience, we also operate John Adams Mortgage Company, Capital Title Insurance Company, and Insurance One. We can truly support our clients through every aspect of their real estate transaction, saving time, money and stress. Creative thinking, long term planning, and quality service have made this company what it is today. We look forward to assisting you in making your real estate transition smooth and rewarding