January – Southeast Michigan Market Overview

2021’s housing market started off strong in January. There continues to be a healthy buyer demand but the number of new listings continues to shrink. While closed sales are up 5.1% and compared to January 2020, the number of new listings received is down 20.3%. This has resulted in fierce buyer competition and a 14.7% median sales price increase over last year.

The number of days that a property is on the market has also drastically decreased. On average it is down 28.8% for residential homes and 19.0% for condos.

If you’ve been thinking about selling, don’t wait, now is the time to take action. Give us a call at 248-270-5999 for more information on how to get started.