No matter if you are buying a home or selling your current home in Plymouth, Michigan, the first step is to research the local real estate market for helpful insight.
In last month’s Plymouth market update, we saw that the market for Plymouth and Plymouth Township real estate was a sellers’ market, meaning that there was little inventory for home buyers to choose from.
Is This Month a Buyers’ or Sellers’ Market in Plymouth?
This month, the market for all homes is similar to our April real estate update. There are 116 homes available for sale currently and 62 sold within the last 30 days, meaning that there are just under 2 months of supply for all homes in Plymouth and Plymouth Township. Low inventory means that sellers can sell their properties for top dollar.
When we consider the smaller markets for homes with special features, we can see that it is also a sellers’ market for homes with pools (2 months of supply), homes with walkout basements (3.2 months of supply), and homes over one acre (4.5 months of supply).
For Plymouth New Construction, Home Buyers Have the Advantage
However, home buyers have a distinct advantage when looking for new construction homes. There are currently 19 homes available and only one sold last month; there are too many properties available and not enough of a demand, so if you are looking for a brand new home in Plymouth, now is your chance to buy a home.
If you want help negotiating a price for a new home, contact us and we can work closely with you to find your dream home at the best price.
Trust the Plymouth Real Estate Experts When Buying a Home
Buying a home is a detailed process, but our experienced real estate agents at Bittinger Team, Realtors® can guide you through the entire transaction, helping you find the home that you are looking for in Plymouth.
Are you ready to start searching for homes in Plymouth? Use our easy-to-use home search tool, browse Plymouth neighborhoods, or contact us any time at 734.459.2600 or team@Bittinger.com. We would love to help.