Real Estate throughout the country is becoming more valuable as the United States comes back from the recession that of 2008. However, properties in Clarkston, Michigan have been experiencing a bit of a rough patch in the last year, and that has left many people’s home values in the red despite a generally improving economy overall. That means that Clarkston homeowners find that their homes are worth a bit less now than they were just a year ago.
Many real estate listings clarkston mi Clarkston MI show that the average property has lost a total value of at least $15,000 in the last year, which is about 6% of their overall, total value. The price per square foot has gone from $143 to $141 in the last year as well. As of December of 2018, the average home in Clarkston was worth about $273,000 and there were about 119 sales of properties throughout December of 2018.
Rent in Clarkston as of May of 2019 was running approximately $1595 per month for a property. That is down from $1650 per month for the average property back in June of 2018. Only about 11 new rental leases were made throughout May of 2019 showing that the rental market is about the same as it was in June of 2018 when there were 12 new rental deals reached. That shows that many residents in Clarkston are looking to buy rather than rent in the real estate market at this time.
The housing market in the Clarkston area is relatively “cool” or poor compared to the average US housing market which is valuing the average home at $226,7000 which is lower than the Clarkston average. However, the average home is worth about 6.6% more than it was a year ago versus the average Clarkston home that lost about 6% of its value in the last year. The average median US house price is running at about $153 per square foot while Clarkston’s average home is running at only $141 per square foot, which is $12 less per square foot and about 7-8% lower than the US national average.
Every city has different housing markets and they each have their own price points. For example, $200,000 will buy 3 very different types of homes in the Washington DC area, Kansas City, and Los Angeles. Depending on the area, you will find the average housing prices fluctuate quite a bit. The average home in each city will be worth depending on the area’s income, economy, and the housing market at that time. It can vary from year-to-year and even month-to-month as to what each market looks like and how “hot” or “cool” it is running at that time.
If you have a housing budget north of $275,000 and are looking for a cheaper per-square-foot deal, then Clarkston might be a great place to start your home search and you might just find the gem of a home you were looking for at a price that is affordable to your family!