August – Southeast Michigan Market Overview

Typically, as we begin to approach fall, the housing market begins to slow. As we all know, this year is anything but typical and that includes the real estate market. All signs are pointing to a busy housing market this fall. 

In August, both showings and pending sales are remaining strong. While the number of homes for sale continues to decline. Compared to last August, there are 38.5% fewer homes and condos for sale. That means that market is more competitive than ever. This has resulted in the continuation of competitive bidding on properties. Those bidding wars means an increase of  10% in average sales prices. 98.9% of properties are receiving list price or higher. 

If you’ve been thinking about selling, now is the time to take action. Give us a call at 248-270-5999 for more information on how to get started.