The Market Is Becoming Less Forgiving
Southeast Michigan’s housing market still rewards sellers — but only those who come to market with the right strategy. Demand remains healthy: year-to-date pending sales are running ahead of last year, even with fewer new listings. Nearly two-thirds of June sales closed at or above asking price, and roughly half of new pending sales went under contract within ten days. Motivated buyers are still competing hard for the right homes.
But a second trend is now impossible to ignore. The market has split in two. Well-priced, move-in-ready homes are selling fast and often above ask. Everything else is stalling. Three signals tell the story:
Inventory is lingering. Unsold active listings now average nearly 90 days on the market.
Price cuts are climbing. Reductions are rising as friction returns to the market.
The cause isn’t weak demand — it’s lower tolerance for mistakes. Buyers have simply stopped forgiving homes that miss on price, condition, or presentation.
The result: instead of drawing multiple offers, mispriced or unpolished listings sit, cut their price, and pile onto overall inventory.
The Bottom Line – Momentum belongs to homes that match buyer expectations on price and finish. Nothing else is moving.
For Sellers — the first impression is everything. A sign in the yard no longer guarantees a sale. Pricing accurately from day one and presenting the home well matter more now than they have in years. Miss on condition or presentation and today’s selective buyers move on — leaving the listing to stall.
For Buyers — more options, same competition. Expect the widest selection of homes in years. But stay decisive: competition for well-priced, move-in-ready properties isn’t easing.