Market Update: March

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Thinking about selling your home?

Its time to get started. As we head into spring not only do we have the warmer weather to look forward to, but also the peak selling months for the Grosse Pointe real estate market.

The peak selling months, generally May – August, always record a high number of sales – as demonstrated by the charts below (years 2013 – 2017).

Selling your home during this peak selling period is guaranteed to attract a large number of potential buyers, however, listing early in the year will put you in a strong position to get one step ahead of the competition.

Here are 5 reasons why it’ll pay to sell your home early
in 2018 (from an article by Holly Amaya on realtor.com):

  1. Interest rates are still historically low, drawing buyers into the market
  2. Inventory remains tight, and demand high
  3. Home prices are still increasing
  4. People have more money in their pocket
  5. Millennials are ready to commit.

So if you are considering selling your home this year now is the time to prepare. Putting your home on the market in March or April will not only mean you can take advantage of the points listed above, but your home will be on the market when there is comparatively low inventory for buyers to select from. You will also be able to maximize selling potential during the peak season of May – August.

For further information and for a free market evaluation please give me a call.

2017 Grosse Pointe Real Estate Annual Report

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Higbie Maxon Agney is pleased to offer our 2017 Grosse Pointe Real Estate Annual Report – Within this report you will find information on average sale prices, sales volume, real estate trends, and much more.

The report presents an extremely positive picture of the continually improving Grosse Pointe housing market. 2017 saw the biggest increase in the average sales price over the past five years, up $35,244 over the past 12 months. The increase was reflected across most of the cities, while the number of sales also rose in many of the communities. Over the past twelve months residential sales topped $302 million, and the number of transactions improved to 855.

The sale of luxury homes (over $1 million) in 2017 far surpassed previous years with an impressive 24 sales in the last 12 months. That’s an increase of 60% over 2016. During the past year Detroit was frequently listed in the top 10 of the nations ‘hottest real estate markets’, and given its ever increasing popularity it is hardly surprising the sales of multi million dollar homes continued to grow, and far surpassed our expectations.

Please click here to access the full report.

Our goal is to give you an accurate and complete picture of the 2017 Grosse Pointe housing market. All of the graphs were produced internally for Higbie Maxon Agney using MiRealSource multiple listing service.

We are confident that these are the best statistics currently available on the Grosse Pointe housing market, and we hope that you will find the contents of this report readable and useful. As we look forward to the coming year, we will use this information to help our clients make informed, educated real estate decisions.

I look forward to assisting you with any real estate needs you may have in 2018.