Tag: Royal Oak Real Estate Agent

September ’23 Market Report

September ’23 Market Report

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…

August ’23 Market Report

August ’23 Market Report

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…

July ’23 Market Report

July ’23 Market Report

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…

June ’23 Market Report

June ’23 Market Report

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…

May ’23 Market Report

May ’23 Market Report

     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…

November ’22 Market Report

November ’22 Market Report

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—…

October ’22 Market Report

October ’22 Market Report

Sales and prices have been sliding since June—the same way they did last year. Both years featured high activity and prices in the first half of the year, followed by declines in the second half. Buyers want and are willing to pay premium prices for…

September ’22 Market Report

September ’22 Market Report

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…

August ’22 Market Report

August ’22 Market Report

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…

May ’22 Market Report

May ’22 Market Report

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…