Market Rewards Well-Prepared Listings
The Southeast Michigan housing market continues to settle into a healthier, more balanced pattern. Buyer activity remains strong, with new pendings rising 3% year-to-date despite new listings trailing last year by 6%. While closed sales remain slightly below 2025 levels, higher prices have more than offset the decline in transaction volume, pushing average sale price up 4% and price per square foot up 3%.
The biggest shift is in buyer behavior. Well-priced, move-in-ready homes continue to attract multiple offers and sell quickly, while listings that miss on price, condition, or presentation are taking longer to sell and often require price reductions. According to the June Insider Brief, 63% of May sales closed at or above asking price, more than half of new pendings accepted an offer within ten days, yet unsold active listings are averaging roughly 70 days on market. The gap between exceptional listings and the rest of the market continues to widen.
Looking ahead, listing activity should begin leveling off after the spring surge while inventory continues to build as slower-selling homes remain on the market. Buyers should enjoy more choices than they’ve had in recent years, but desirable homes will continue to command strong competition. For sellers, first impressions have never been more important. Pricing correctly and presenting the home well remain the surest path to a quick sale and top-dollar offers.
