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Home Sales Up In Several Metro Detroit Communities

DETROIT (WWJ) - Home sales are up in metro Detroit.  Realcomp says about 500 more homes sold this July over last year in all but Wayne County.  CEO Kelly Sweeney of Caldwell Banker-Weir Manuel Realtors says homes are selling for more, too.

"Again, we are at the bottom, prices can only go up from here, I think for young people or anybody ... the next 10-15 years it looks like a very positive appreciation for real estate," said Sweeney.

"In certain markets now particularly south Oakland County, Birmingham, Bloomfield ... the Woodward corridor, we are finding actual price appreciation, a shortage of inventory, very, very good buyer activity, and in many cases it's multiple offers and it's over asking (price)," said Sweeney.

HomeSales Aug'11 (Mike Campbell)
Home for sale. (WWJ: Mike Campbell)

Sweeney says median sale prices were up over $6,000 dollars over last year.

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