Manage episode 152226691 series 1053854
- Home values have shot up by 30% since 2011.
- Things have gotten a bit stagnant in the last few months because of poor weather - but in the last 7 days, 116 new homes have hit the market.
- Only 57 of these have sold, and 42 homes have lowered their listing prices since being on the market.
- This would indicate to me that these homes were initially overpriced, or that buyers simply aren't as interested in buying as they were at this time last year.
- It's a good time to be a buyer here in the Northville/Novi area because there are twice as many listings on the market than what we are actually selling. This doesn't mean that inventory is large, but it does give buyers a chance to take a short breath and find the most suitable property available.
- If you're a seller, it's critical that you price your home right and to make sure that your home is marketed to the maximum amount of buyers.