As we transition from summer to fall, the Southeast Michigan real estate market shows signs of both resilience and evolution. August’s data brings a mixed bag of trends that indicate slight adjustments in the market, but overall, demand remains strong and enduring. Here is the…

Over-Asking Sales Remain High Despite Slower Market 2023 sales have been driven, or restricted by the arrival of new listings. The slight decline in listings over the past few months has been resulting in a gradual reduction in new pendings and closed sales. Expect the…

The Southeast Michigan real estate market continues to see historic trends as we move through the summer of 2023. While inventory has dropped significantly, down 32% compared to June of 2022, strong demand remains unabated. Despite depleted inventory quantity and quality, prices are at historic…

This year’s 20% YTD decline in sales is directly linked to the scarcity of new listings—down 21% YTD and slightly more in recent months. Buyers continue to wait for move-in-ready listings, especially in the more affordable price ranges. In May, we saw 24% fewer homes…

     While projections indicate that the influx of new listings should reach last year’s levels during the latter half of this year, there’s still a noticeable delay. Buyers continue to face extended waiting periods and intensified competition due to the persistent scarcity of top-quality…

Passing through the fourth quarter, both market times and the frequency of price reductions are rising but the best listings continue to sell quickly—frequently for full or over-asking price. Market Times:DOM went from a 32 day average in September and October to 37 days in November—…

Most Michigan markets peaked in June and have been slowing with prices fading since. But it did that last year too. Much of the slowdown is due to the limited inventory quality that we typically see later in the year. While the pandemic-era sales and…

Although slowly fading, demand remains strong in proportion to available listings in our Southeast Michigan and Washtenaw County markets. With so many external factors like rising interest rates and inflation, everyone is wondering what to expect as the market continues to move through the second…

The past few years have seen dramatic market shifts with extraordinarily low supplies combined with high demand, which became extreme when the pandemic instantly changed our housing needs by having us working and schooling from home. Over the past few months, we’ve been experiencing our…

We continue to see shortages of affordable move-in-ready listings in most markets. Within all price ranges, the best new listings are selling fast with over-asking competing offers. When working with a buyer to write a competing offer, counseling our client as to the offer amount…