Allen Park

Currently, according to the RealComp MLS, there are 190 homes for sale in Allen Park. These 190 houses are listed for sale at an average of $102,260 and have been on the market an average of 160 days. 65 of these homes for sale in Allen Park are either in foreclosure or are being advertised as “Short Sales”. A home for sale in Allen Park advertised as a short sale is when the homeowner owes more on the house than the house is worth in the current market. The average price of these Allen Park houses that are either foreclosures or short sales is $81,942 and they have been on the market an average of 107 days. Please note that these are homes for sale averages and market time is more accurately calculated by the initial listing price of the house in Allen Park. Sellers who accurately price their Allen Park home for sale according to market conditions can expect a shorter market time.

Looking at houses that have recently sold, and I am using December 1, 2008 to the current date, I find that 25 houses have sold at an average price of $68,176. Of these 25 homes sold 12 were foreclosures which dramatically lower the average sales price. I believe our Allen Park real estate market will bottom out when the government passes legislation to give homeowners relief from the effects of foreclosure. If you are thinking putting up your home for sale and holding off because of the depressed prices it is a great opportunity to buy up. You will probably lose some on your current house, but have a great chance of making it up on your step-up house and take advantage of historically low interest rates at the same time. Please call if you would like an equity analysis done on your house.