Did you know that using current real estate trends is one of the best tools you have when buying or selling a home?
Recent sales are not only helpful in determining the price range for homes in your area, they can also tell you how quickly homes in a city — such as Plymouth, Michigan — or a particular neighborhood are selling for. Plus, these real estate trends may be able to help you figure out which home features are the most sought-after among other home buyers.
Current Real Estate Trends in Plymouth
As we have discussed in our previous Plymouth real estate updates, we can determine how quickly homes are selling when we compare how many homes are available on the market with how many have sold recently.
Let’s look at the Plymouth housing market, for example. If we compare the number of available homes (112) with the number of homes that have sold in the past month (72), we can figure out that it would take about 1.5 months to sell every property on the market today, if nothing else was listed.
Too Many Homes, Not Enough Buyers
The months of supply data we just calculated is incredibly helpful for both buyers and sellers. When there are more than 6 months of supply, it’s a buyer’s market.
In Plymouth, it’s a buyer’s market for new construction homes. People are not purchasing brand new homes quickly enough to keep up with the new listings that are coming on the market. This means that you may be able to buy your favorite property for a lower price. Call us at (734) 459-2600 and we can explain everything in detail.
What About Plymouth’s More Popular Features?
Plymouth tends to be a hot market when it comes to home sales. It’s a seller’s market for homes over an acre, homes with walkout basements, and homes with a pool. There are not enough available homes for all of the buyers looking for a property with these features.
Here’s a comparison of the number of listings available with the number of listings sold in the past 30 days.
We Have the Answers You’re Looking For
You don’t have to be your own expert to find your favorite home for the best price. We can help you find your ideal home easily and answer any question you may have in the process.
If you want to know more about buying a home in Plymouth, or if you have a favorite property you want to see, please call us at (734) 459-2600 or email team@bittinger.com. We are here to answer every real estate question you have – no strings attached! Around here, it’s all about YOU. Go ahead – take advantage of our 32+ years of experience!
Till next time,
Noel
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