Home News One Downriver city dominating real estate sales; most others are declining – The News Herald

One Downriver city dominating real estate sales; most others are declining – The News Herald

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A small number of down-river communities have countered the slowdown in April home sales, with uptrends in Allen Park, Grossil, Taylor, and especially Melvindale.

“A small city with a big heart” and about 10,300 residents showed eye-catching results. This is above the down river area in terms of closing growth and median.

In the Melvindale market, closing prices and prices rose by double digits for the first time in three months. Compared to April 2021, Melvindale:

• Closing increased by 12.5%, according to RealcompII Ltd., Michigan’s largest multiple listing service (9). Sales of 12 Melvindale homes in February ended compared to 5 in the same month of the previous year.

• According to Realcomp, the average price of Melvindale homes in April was $ 129,000, up 15.2% from the same month last year. In February, the median price reached $ 130,000.

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