Whether you are selling your home or looking for a new place to call home, it’s important to know your negotiation power. Are Houses Selling Fast in Metro Detroit Now? Let’s find out!
Are Houses Selling Fast in Metro Detroit: What You Need to Know
Are you considering selling your house in Metro Detroit? Here’s some encouraging news: even though the market isn’t as explosive as during the ‘unicorn years’ when homes flew off the market, they are still selling quicker than usual.
Let’s dive into some statistics from Realtor.com that illustrate this trend. These figures show the median number of days homes stayed on the market each January from 2017 to now. ‘Days on the market’ tracks the time from listing to sale or removal from the market. This gives a clear picture of the selling speed:
Homes Are Selling Faster Than Usual
The latest data highlighted in green shows that homes are selling faster than in typical years (indicated in blue). They only sold quicker during the ‘unicorn’ years, shown in pink, Realtor.com reports:
“According to recent findings, homes stayed on the market for just 69 days, which is three days fewer than last year and significantly shorter than the pre-COVID-19 era by over two weeks.”
What This Means for You as a Seller or Buyer
The trend indicates that homes are selling more quickly than usual for this time of year. However, the inventory is still limited. Mike Simonsen, the founder of Altos Research, provides additional insights:
“The year 2024 has started off stronger than last year, with buyer demand increasing week by week.”
Multiple Listing Service Data for Metro Detroit ~
(Live feed, place your cursor on the graph for data)
Macomb County Market Trends ~ ARe Homes Selling Fast?
Macomb County Home Prices, Inventory Levels, and Days on Market By City
Oakland County Market Trends ~ Are Homes Selling Fast?
Oakland County Home Prices, Inventory Levels, and Days on Market By City
Let’s Decode the Housing Market Together! Let’s Connect ⤵️
Wow 😮, there’s a lot to consider! Whether looking to buy a new home or considering selling, keeping up with the latest housing market trends is essential. After all, these numbers impact your decisions and your money. Let’s simplify the process together. Schedule a Zoom call with me, and we’ll review the data. I’ll share my screen so you can see the market insights clearly and feel confident about your next steps. If you need to sell first, visit Top 3 Home Selling Questions Answered. I’ll walk you through Step #1. Find what your home is worth in today’s market and your equity gains.
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Conclusion: Is It a Good Time to Sell?
If you are debating whether to sell your home, the current market data strongly suggests that now is an excellent time. The market dynamics show strength that is unusual for this time of year, making it an opportune moment for sellers. Consider signing up for our newsletter to stay informed about the latest trends and updates in our local real estate market.
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The information contained, and the opinions expressed in this article are not intended to be construed as investment advice. Metro Detroit Home Experts ~ Team Tag it Sold does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Metro Detroit Home Experts ~ Team Tag It Sold will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
