Livonia Statistics for 2006, 2007 and currently in 2008! 

According to the National of Home Builders/Wells Fargo Housing Opportunity Index, Detroit-Livonia-Dearborn, Michigan is one of the top 10 most affordable large metro areas. Below is the inventory history for all three years. of Home Builders/Wells Fargo Housing Opportunity Index, Detroit-Livonia-Dearborn, Michigan is one of the top 10 most affordable large metro areas. Below is the inventory history for all three years.
 

Listing Statistics for 2006, 2007, 2008 Ytd for city of Livonia.

 

 
2008 Current Inventory
Active Listings 777
Sold Listings 75.58
Month's supply 10.36		 2007 Data
Sold Listings 908
Average DOM 119

2006 Data
Sold Listings 706
Average DOM 101
 

As you can see from looking at the graphs, the high listing prices are still high for both, but the REO listings are significantly lower than those in the normal listings prices.  Below is the inventory history for REO's for all three years.  
REO Listing Price Statistics for 2006, 2007, and 2008 Ytd for  City of Livonia

2008 Current Inventory
Active Listings 777
Sold Listings 104     Month's supply 18.5

 2007 Inventory
Active Listings 907
Sold Listings 89
Month's Supply 10.0

2006 Inventory
Active Listings 760
Sold Listings 33
Month's Supply 4.3
 
The amount of solds for REO"s have been going up the past few years. It is not even the middle of the year and we are close to half of what sold last year. Thanks for viewing my home market report  for Livonia. Also, if your interested in a foreclosure or bank owned home, send me an email and I will set you up on a special email notification as they come on the market.