White Lake real estate update

White Lake is a suburb of metro Detroit in the middle of Oakland County Michigan.  I would classify it as town that is not urban, but more semi rural.  Here is a White Lake real estate update.    In the last year White Lake homes have risen about

  •             13.8%                  1-year change
  •      and Zillow is  predicting   6.% increase for next year.

White Lake real estate is a mixture of lake homes, homes in subdivisions, and homes on larger lots and acreage.  I live in White Lake so I see first hand about what is happening in our local real estate market.  Last year in 2013 it was a hot market.  However the White Lake real estate market is not as hot as say Livonia, Royal Oak, or any other city that is closer to downtown Detroit.  Because White Lake is further away from downtown Detroit and there is no easy highway access White Lake homes are not in demand as much as other cities.  There was a low inventory of homes.  Part of it is that home owners are not moving as much as they did prior to the mortgage meltdown  It was a seller’s market with the best homes getting multiple offers and sometime getting prices over the list price.  In the last two months December and January the metro Detroit real estate market has cooled a lot.  We are seeing White Lake homes and homes around Metro Detroit sitting on the market longer.

There are still a low inventory of White Lake homes for sale.  Currently there are only 111 homes for sale in Wixom, Michigan.  There are only 6 condos for sale right now.  11 of these White Lake homes for sale are foreclosures.  37 of these homes are lakefront homes for sale.   There is still a pent up demand for homes and I think there are still plenty of buyers out there.  I think the buyers have just got smarter.  They are realizing it will take time to find the right home and they are taking their time looking at homes.  I do not think it is going to be as hot of a real estate market this year.

Currently there is only one lakefront, canal front, or lake access foreclosure in White Lake Michigan

6733 Thompson Lane, White Lake Twp 48383-3072
MLS#: 213084191 Status: ACTV Stat Dt: 11/25/13 Price: $239,700
County: Oakland Area: 02121 Sqft: 1,980 Acreage: 0.46
School D: Huron Valley Beds: 4 Yr Built: 1978 Grg Size: 2 Car
Prop Type: Residential Baths: 2.1 Bsmt: Yes Fireplace: No
Style: Colonial Sum Tx: $2,424 Win Tx: $1,302 Pool: No

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