FOR IMMEDIATE RELEASE

September Slows: Residential Sales Decrease, While

Median Prices Continue to Rise
Median home price up 3.4%, Inventory down 26.2%

September Monthly Highlights:

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are
stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited
number of desirable listings. And although mortgage rates have remained enticingly low, home prices
have reached unaffordable levels for many new entrants into the housing pool at exactly the same time
that established owners are proving to be less interested in moving.

Last year at this time, the national storyline was about how high demand was propping up sales and
prices despite low inventory and months of supply. That has actually continued to be a familiar refrain for
many months in 2017 and now for the past couple of years. But with the likes of Hurricanes Harvey and
Irma, different employment outlooks, disparate incomes, varying new construction expectations and
potential housing policy shifts, regional differences are becoming more prevalent and pronounced.

All single-family home sales for the month were down by 1.9% Y-O-Y, from 7,728 to 7,580. All MLS
sales decreased M-O-M from 8,676.

The median sale price for All MLS sales increased by 3.4% Y-O-Y, from $159,500 to $165,000. The All
MLS median sale price decreased M-O-M from $169,900.

Average Days On-Market (DOM) for All MLS sales decreased by 9 days Y-O-Y, from 43 to 34. The ALL
MLS avg. DOM increased M-O-M by 1 day.

All MLS on-market listings (inventory) decreased by 26.2% Y-O-Y from 28,284 to 20,874. All MLS on-
market listings decreased M-O-M from 21,140.

REALCOMP II LTD. | 27555 FARMINGTON ROAD, SUITE 325 | FARMINGTON HILLS, MI 48334-2974
PHONE: 866.553.3003 FAX: 248.553.4244 | CORPORATE WEB SITE: REALCOMP.MOVEINMICHIGAN.COM | PUBLIC SEARCH SITE:
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 4.1% of Residential and Condo On-Market listings are flagged as lender mediated. These listings
include foreclosures and those marked as short sales. This percentage is down by 3.1% Y-O-Y based
on the recalculated percentage for September, 2016 which is 7.2%. The percentage of lender mediated
listings is the same M-O-M (compared to August, 2017). The largest percentage of properties identified
as lender-mediated fall into the price range of $150,000 and Below.

Other Fun Facts:

Over 60,070 showings were conducted on properties in the MLS during the month of September, an
average of 4.3 showings per listing. Showing activity per county averaged as follows:
o Macomb County - 5.2
o Oakland County - 4.8
o Wayne County - 4.2
o Washtenaw County - 3.9
o Livingston County - 3.3
o Genesee County 3.0
o St. Clair County - 2.7
o Lapeer County - 2.6
o Monroe County - 2.5
Single-family pending sales for the month were up 4.8% Y-O-Y, 6,936 to 7,272.
The percent of list price received on Residential properties was 97.6%, up .4% Y-O-Y. The percent of list
price received on Condominium properties was 97.5%, up .4% Y-O-Y.

Realcomp Shareholder Boards & Associations of REALTORS:

DABOR, Laura Green, GPBR, Bob Taylor, CEO, NOCBOR, Patricia
EVP, 313-278-2220 313-882-8000 Jacobs, EVP,
DAR, Sharon Armour, LUTAR, 810-664-0271 248-674-4080
EVP, 313-962-1313 LCAR, Pam Leach, EVP, GMAR, Vickey Livernois,
ETAR, Laura 810-225-1100 EVP, 248-478-1700
VanHouteghen,
810- 982-6889

Notes:

The ALL MLS jurisdiction encompasses all listings reflected in Realcomps MLS database, including
those outside of Michigan.

Metro-Detroit (new) encompasses Oakland, Wayne, Livingston, & Macomb data.

+ Greater Wayne County represents Wayne County minus the City of Detroit.
Grosse Pointe includes Grosse Pointe, Grosse Pointe Farms, Grosse Pointe Park, Grosse Pointe
Shores, Grosse Pointe Woods, & Lake Twp.
MLS listing data coverage in these counties is limited: Hillsdale, Huron, Montcalm, Sanilac, & Tuscola.

REALCOMP II LTD. | 27555 FARMINGTON ROAD, SUITE 325 | FARMINGTON HILLS, MI 48334-2974
PHONE: 866.553.3003 FAX: 248.553.4244 | CORPORATE WEB SITE: REALCOMP.MOVEINMICHIGAN.COM | PUBLIC SEARCH SITE:
WWW.MOVEINMICHIGAN.COM
Listing and Sales Summary Report
September 2017

Total Sales (Units) Median Sales Prices Average DOM On-Market Listings (Ending Inventory)
Sep-17 Sep-16 % Change Sep-17 Sep-16 % Change Sep-17 Sep-16 % Change Sep-17 Sep-16 % Change
All MLS (All Inclusive) 7,580 7,728 -1.9% $165,000 $159,500 +3.4% 34 43 -20.9% 20,874 28,284 -26.2%
City of Detroit* 359 283 +26.9% $32,750 $22,728 +44.1% 49 54 -9.3% 1,643 2,526 -35.0%
Dearborn/Dearborn Heights* 244 208 +17.3% $132,950 $117,250 +13.4% 23 41 -43.9% 513 722 -28.9%
Genesee County 542 571 -5.1% $132,000 $122,000 +8.2% 36 49 -26.5% 1,416 1,841 -23.1%
Greater Wayne* 1,543 1,541 +0.1% $144,000 $130,962 +10.0% 24 32 -25.0% 3,112 4,441 -29.9%
Grosse Pointe Areas* 92 75 +22.7% $271,000 $249,000 +8.8% 45 55 -18.2% 220 301 -26.9%
Hillsdale County 17 15 +13.3% $180,000 $150,000 +20.0% 83 124 -33.1% 66 65 +1.5%
Huron County 15 13 +15.4% $113,000 $105,000 +7.6% 138 327 -57.8% 85 81 +4.9%
Jackson County 215 190 +13.2% $135,000 $117,750 +14.6% 73 85 -14.1% 818 890 -8.1%
Lapeer County 118 148 -20.3% $165,000 $169,250 -2.5% 31 57 -45.6% 387 566 -31.6%
Lenawee County 115 112 +2.7% $145,000 $141,450 +2.5% 79 96 -17.7% 455 491 -7.3%
Livingston County 286 307 -6.8% $236,750 $239,000 -0.9% 36 41 -12.2% 844 1,092 -22.7%
Macomb County 1,244 1,323 -6.0% $162,000 $149,500 +8.4% 26 38 -31.6% 2,756 3,915 -29.6%
Metro Detroit Area* 5,283 5,384 -1.9% $173,000 $167,600 +3.2% 28 36 -22.2% 13,315 18,657 -28.6%
Monroe County 173 193 -10.4% $159,000 $154,200 +3.1% 68 62 +9.7% 598 825 -27.5%
Montcalm County 1 0 -- $70,000 $0 -- 43 0 -- 7 7 0.0%
Oakland County 1,851 1,930 -4.1% $229,000 $215,000 +6.5% 27 35 -22.9% 4,960 6,683 -25.8%
Saginaw County 160 179 -10.6% $104,950 $89,790 +16.9% 55 71 -22.5% 634 914 -30.6%
Sanilac County 48 39 +23.1% $106,000 $116,000 -8.6% 71 87 -18.4% 206 270 -23.7%
Shiawassee County 62 81 -23.5% $111,000 $97,500 +13.8% 48 86 -44.2% 187 271 -31.0%
St. Clair County 252 237 +6.3% $145,000 $145,200 -0.1% 43 51 -15.7% 636 984 -35.4%
Tuscola County 47 46 +2.2% $99,900 $78,950 +26.5% 42 91 -53.8% 128 183 -30.1%
Washtenaw County 412 435 -5.3% $264,500 $225,000 +17.6% 30 34 -11.8% 1,303 1,525 -14.6%
Wayne County 1,902 1,824 +4.3% $127,600 $118,000 +8.1% 28 35 -20.0% 4,755 6,967 -31.7%
* Included in county numbers.

Current as of October 2, 2017. All data from Realcomp II Ltd. This report is not to be reproduced or redistributed without Realcomp's express written consent. Data deemed reliable but not guaranteed. Report 2016 ShowingTime.