Southeast Michigan 1st Quarter Report – April 2017
April 27, 2017
Southeast Michigan Housing Report May 2017
June 15, 2017

Michigan Real Estate Market Update: May 2017

The average home is taking less than 30 days to go under contract and selling for 95-100% of its listed price….as long as it is priced within range of market value. Homes that are in move-in condition will sell for more. Due to the lack of inventory, newly listed homes are getting a flurry of showings yielding an offer and often multiple offers. Quick price reductions don’t taint a property rather they keep the buyers “watching” the listing interested. Waiting more than 30 days without an offer to make any kind of adjustment, price or otherwise, will make the listing stale. Buyers need to be ready to look at new listings quickly and write offers immediately.

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