REAL ESTATE BLOG

COVID-19 Market Report

COVID-19 Market Report

When is the economy going to recover? Is this a good time to buy or sell a home? What will happen to home values? Is this going to be 2008 all over again? The real estate market is not business as usual, but we are…

February ’20 Market Report

February ’20 Market Report

A mix of carry-over demand from last year’s buyers, low interest rates and tight inventory is fueling bidding wars for affordable move-in-ready homes in middle and lower price ranges. Buyers need to act quickly with strong offers. Limited inventory is not a problem in most…

2019 Year End Market Report

2019 Year End Market Report

Despite previous signs of slowing markets, 2019 set new historic highs for average sale price, price per square foot and closed volume. Closed units which had been declining since 2016, leveled out and finished even with the prior year. A bullish economy combined with a…

December ’19 Market Report

December ’19 Market Report

Nearing the end of the year, 2019 has generally been good for Southeast Michigan real estate. Closed sales were even with last year and the average sale price has been up 4%. Monthly inventory levels, which had been falling year over year for over a…

November ’19 Market Report

November ’19 Market Report

As we head toward the home stretch of 2019, it’s been a good year. While there have been fluctuations within markets and price ranges, YTD sales in Southeast Michigan have been even with last year and inventory and average sale price are both up. If…

October ’19 Market Report

October ’19 Market Report

Despite the seasonal slowing, year-to-date sales are even with last year and set an all-time high in closed volume—4% higher than last year. The market continues to carry momentum into the fourth quarter that may be slow to pick up in the 2020 election year.…

September ’19 Market Report

September ’19 Market Report

Through August, year-to-date sales are nearly even with last year and average price is up 4%, yet value changes vary dramatically by area and price range. The Housing Report linked below breaks each market area down into four price ranges, making the numbers more relevant…

August ’19 Market Report

August ’19 Market Report

In most local markets, inventory levels continue to grow compared to last month and last year. YTD closed sales are only down 1% from a year ago and although most values continue to rise, they are leveling out—especially in most higher-end markets. Pay attention market…

2nd Quarter ’19 Market Report

2nd Quarter ’19 Market Report

The market was relatively strong throughout the 2nd quarter. July 1st inventory was up 16% from last year and should continue to rise as we move forward. Prices are beginning to flattened out, especially at high-end prices. Although inventory is rising, buyers are still competing for the…

June ’19 Market Report

June ’19 Market Report

Heading into summer, the 2019 market has been stronger than expected. Closed sales in Southeast Michigan are even with last year and values are up 2 to 3% in most markets. Despite an 18% rise in the number of available listings compared to last year,…